Do you think the corruption of the Enron era is not just a corporate failure, but also a failure of government

Question

On the website http://enronwatchdog.org they talk about how the corruption of the Enron era is not just a corporate failure, but also a failure of governmental oversight which was eviserated by deregulation. Do you think that is true? Why or why not? What should have been done, what has been done, and what do you think we need to do so that we don't have another period of time like the one where Enron, WorldCom, and the rest had all of their problems?

Answer 1

It is a fact that the energy policy of the current administration was formulated in closed meetings with VP Cheney and executives of Enron and a few other energy companies. Executive privilege has been invoked to prevent release to congress of the details of those meetings. The new democratic congress will no doubt launch an investigation to try to learn exactly what went on and if there was any wrong-doing by the administration.

The SEC and the accounting profession, in the form of independent auditors, are supposed to insure that the annual financial statements of public companies fairly represent the actual operating results and financial condition of those companies. In the cases of Enron, Global com, Global Crossing and a few others, those financial statements were seriously misstated and not caught by the auditors or the SEC. Wrong doing and negligence were at the bottom of those failures. I was so disgusted at the failure of the accounting profession, that I resigned from the AICPA - the professional society that oversees accounting and auditing standards.

Answer 2

NO NO NO...

Enron is much greater.. MUCH!!

We're just bamboozled by the times we live to stop and think about it.. but essentially we have a corporation here who used political power and connections to essentially hijac the US public and got away with such a massive theft.. it's bewildering the amount of money stolen is more than the GDP of some small nations..

And.. it's not the only case, nor the first time..

Thus the people are surely asking whether the capitlist system with it's westminster based legal system.. actually work??

Seems increasingly that a handfull of neo-conservative elitists can rape the economy virtually at will now.. orchestrating property price rises, then collapses.. orchestrating sharemarket activity.. ITS ALL ORCHESTRATED!!

Sure.. the altrustic ones will argue the system provides so much for the public.. true.. but when Hurricane victims are ignored whilst the same Neo-Cons are over in Iraq working a plan to make more mega billions.. whilst handing out no-bid job contracts to their own chums.. then perhaps its time to put events like Enron into their proper persepctive, and realise that the evil on this planet.. lived in Enron.

We learnt that misery is TOP DOWN.. enron proves that.. how much misery it will have caused those who lost their millions..

So we need to ensure it never CAN happen again.. I just wonder how more times it will happen before the people of the West also revolt against Neo-conservative thinking.. the plague of our planet!

Answer 3

People should have known not to buy Enron Stock.
Lay & his gang went to the White House with Clinton dozens of times. They had standing invitations from Clinton.
I would never trust anyone who frolicked with Clinton.
I warned people about Enron for years.

Answer 4

Corruption starts off with human beings in our very own government and what they desire to get on the cost of the Mexican human beings.The Mexican government understands no incorrect way, alot of the persons are doing regardless of they are able to to stay. the U. S. supplies those human beings reward they are able to't get from the Mexican government so as that they are prepared to attempt something for themselves and households to get the advantages. Take the advantages that are presented away or shrink them and that could shrink the difficulty of illegals alittle. while it includes jobs, they don't seem to be taking any jobs away that the yank worker could have. There are alot of folk out of artwork interior the USA, additionally a huge quantity that does no longer do any of the artwork that persons from Mexico are prepared to do now.. all of us could desire to awaken to the actuality that if we don't do some thing by way of vote casting for the fabulous human beings, Spanish would be the main language interior the States. right here in California the Mexican government has shown that that's waiting to take over, yet everywhere a human being is going the language sounds like Spanish could additionally say that there are a huge style of indications and revealed textile in languages that i can't examine the place it is going to be English purely.

Answer 5

Enron controlled power and imposed blackouts at its own will.

Rotschild said he will control government if he controls the money. Enron took the money and ran.

Answer 6

IT IS NOT THE GOVERNMENT'S JOB TO REGULATE/PAY ATTENTION TO THESE CORPORATIONS.

When are you people going to realize that the government was NOT created to rule/regulate every little aspect of our lives? The MARKET will take care of it in due time.

We need to minimize government interference in business in order to allow businesses to be subject to the whims, desires, and needs of the populace. Business should be subject to only one lord -- THE CONSUMER.

All I can say about Enron stock is what my father taught me before he died, "I did not buy Enron becuase I couldn't figure out exactly what they made or did. NEVER buy a stock where you don't know what they do!"

Answer 7

Too lengthy to go into right now, I am trying to make points back for asking questions. Government answers to business, just get that right and you will alleviate a lot of confusion.

Answer 8

yes i do