Banks Involvement in Enron

Paper Summary:

This paper examines how banks Citigroup Inc. and J. P. Morgan Chase & Co. helped Enron Corp. avoid taxes and hide debt. It also discusses how recently new evidence has surfaced that reveals that Banks Citigroup Inc. and J. P. Morgan Chase & Co. were much more aggressive than the Senate Committee had previously thought. This new evidence is analyzed and details of their involvement is explained.

From the Paper:

"Several ethical issues are involved in the case, none of which have clear answers. At the heart of the matter is the concern that corporate accountants are engaging not in accounting fraud, but in misrepresentation. The motive for misrepresentation, however, seems to lie with large corporations who foster environments which reward such behavior. The ethical questions in this case are difficult because of the systemic nature of the problem. Also at issue are the virtues of capitalism itself. In one regard, corporations like Enron are simply doing what it takes to survive in a capitalistic market."

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