Sham and Shame

Paper Summary:

The paper discusses the strict regulatory and corporate policies that were undertaken in an effort to recapture public trust and confidence after the Enron scandal. The paper looks at the scandal's effect on healthcare securities regulation, on lawyers' ethics and on the assessment of records and their integrity. The paper also discusses the lesson learned that, in a world of predators, all the parties participating are already at least partly corrupt. Finally, the paper explores ethics for America after Enron and explains the concept of fiduciary duties.

Outline:
The Story of Enron
Impact

From the Paper:

"Enron began as an intestate pipeline company from a merger of Houston Natural Gas and InterNorth of Omaha (Canadian Broadcasting Company 2006). The former chief executive officer of Houston Natural Gas, Kenneth Lay, became the merger's CEO and later its chairman of the board. From a regulated natural gas company, it ventured into new fields and eventually became one of the world's biggest energy businesses. In 1999,. Enron opened its broadband services and Enron Online, its website for trading commodities. Ninety percent of its overall income came from businesses conducted through the website. Business was swift. The following year, its annual revenue was $100 billion. It became the seventh-biggest company in the Fortune 500 list and the world's sixth largest energy company (Canadian Broadcasting Company)."

Sample of Sources Used:

• Boatright, J. R. (2003). Ethics for a post-Enron America. 7 pages. Phi Kappa Phi Forum. Phi Kappa Phi Journal: ProQuest Information and Learning Company
• Canadian Broadcasting Corporation. (2007). The rise and fall of Enron: a brief history. 4 web pages. CBC News: CBC.ca. Retrieved on October 17, 2007 from http://www.cbc.ca/money/story/2006/05/25/enron-bkgr.html
• Carroll, B. (2002). Post-Eron perspective on selected securities regulation issues. 3 pages. Attorney-CPA: American Association of Attorney-Certified Public Accountants
• Clarke, R. (2002). The Enron effect. 2 pages. Healthcare Financial Management: Healthcare Financial Management Association
• Dietel, J. E. (2003). Recordkeeping integrity: assessing records' content after Enron. 10 pages. Information Management Journal: Association of Records Management and Administrators

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