Enron scandal asshole

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The Enron scandal was an accounting scandal involving Enron Corporation, an American energy company based in Houston , Texas. Upon being publicized in October , the company declared bankruptcy and its accounting firm, Arthur Andersen — then one of the five largest audit and accountancy partnerships in the world — was effectively dissolved. In addition to being the largest bankruptcy reorganization in U. Several years later, when Jeffrey Skilling was hired, Lay developed a staff of executives that — by the use of accounting loopholes, special purpose entities , and poor financial reporting — were able to hide billions of dollars in debt from failed deals and projects. Chief Financial Officer Andrew Fastow and other executives misled Enron's board of directors and audit committee on high-risk accounting practices and pressured Arthur Andersen to ignore the issues.
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Enron: The fraud that changed everything

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Enron: The fraud that changed everything | The Independent | The Independent

I had heard about this infamous and perhaps symptomatic of the problems with Enron moment for years. I decided to see if I could actually hear it. Others had their jaws metaphorically or even literally hit the floor. Richard Grubman was a managing partner of Highfields Capital, a hedge fund.
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Time to revisit Enron: ask why, asshole.

It was more than that though. The scandal is also a testament to that ultimate human frailty, the happy decision to proceed with stupidity, largely because someone told us to, and everyone else was. There is also a wider lesson here, something that resonates with the challenges that we currently face.
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J effrey Skilling is in rehearsals. Tomorrow, he begins a one-man show in Houston, Texas, for which the reviews must be very, very good. There are only 12 critics who matter, but if they give a thumbs-down, he could spend the rest of his life in prison.