Examines the factors involved in the collapse of Enron, from its successful history of brokering to its unethical practices which ultimately led to its bankruptcy.
Written in 2002; 900 words; 8 sources; $ 35.95
Paper Summary:
Enron is quickly becoming a 21st century equivalent of the 1950's game show scandals that inspired the film "Quiz Show". Both events involved a very large organization, an apparently active conspiracy to deceive the public and employees and touches a very broad section of our political and economic power structure. Enron had emerged from the smoke and mirrors associated with all scandals as a clearly unfathomable organization - Enron is an enigma. Before the bankruptcy, Enron enjoyed an enormously successful history of brokering energy to and from various points on the compass - from virtually blackmailing California during that state's energy crisis of the summer of 2000, to the general failure to meet energy contracts throughout the county. Enron's excesses, mismanagement, shady accounting, questionable ethics and its octopus-like hold on seemingly half of all the congressional politicians in Washington combine to lend credence to conspiracy theorists who assert that there are commercial forces at work behind governmental decisions that supercede concerns for the American citizenry. Like any scandalized person or organization, prior to exposure, everyone is ecstatic to be in bed together, but post-exposure, all the partners jump out of bed faster than roaches under a sun-lamp. Enron collapsed because it was a giant built upon a balsa wood foundation.
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