Enron Scandal Who Are Responsible for Enron¡¦S Bankruptcy

Enron was once one of the worlds leading electricity, natural gas, pulp, paper and communications companies. However, in December 2, 2001, Enron suddenly filed for bankruptcy. During the ten years before Enron ¡Ã‚ ¦s went bankrupt, Enron ¡Ã‚ ¦s management had started transferring Enron ¡Ã‚ ¦s funding to personal accounts and made fake balance sheets, which provided investors information about how this company goes. (Gibney, 2005) These illegal actions, performed by certain individuals, finally led Enron to go bankrupt. These people ¡Ã‚ ¦s unethical behaviors such as CEO (Chief Executive Officer) of Enron, auditors and journalists caused Enron to go bankrupt, and therefore are responsible for Enron ¡Ã‚ ¦s bankruptcy. First of all, the hypocrisy and†¦show more content†¦(Madrick, 2003, p. 5) If Beth McLean published this story before the bankruptcy, investors may have gotten some warming and they would not have bought the stocks. Unfortunately, because of journalists bribes, investors did not realize the actual situation of Enron until Enron went bankrupt. Furthermore, journalists kept reporting some positive news about Enron without checking the dependability. Jeffrey MadrickShow MoreRelatedFailure Of Responsible Management : Enron Corporation1645 Words   |  7 Pagesexample, which failure of responsible management. The Enron Corporation is an example, because Enron event is the typical case for organization failure of responsible management In the end of 2001, Enron scandal has been disclosure, Enron stock prices slumped, and its financial tricks was exposed. The Securities and Exchange Commission (SEC) began survey of company s records. Enron’s auditor ‘Arthur Andersen ‘destroys relevant documents. 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