Enron: The Story Behind the Collapse

Paper Summary:

This paper describes the history of the Enron Corp. and what led to its bankruptcy which the author sees as a product of management's greed, shady, yet legal accounting practices and a web of influence created through large campaign donations.

From the Paper:

"Enron created various types of contracts that protected both the buyers and sellers in case of price fluctuation over the length of the contracts. This new marketplace allowed energy users to predict and stabilize costs far into the future. This strategy created by Enron was based on the belief that it could be a big energy player without owning all of the power plants, ships and pipelines that most companies owned. Instead they would use contracts to control facilities in which other had invested. By 2001, Enron had evolved into a market maker for some 1,800 different products, many of them energy- or Internet-related contracts or derivatives the company had created itself.[i]"

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