I still recommend that all master students should watch this documentary
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Enron: The Smartest Guys in the Room
Luigi 2022-01-15 08:01:02
This documentary was filmed in 2005 and I watched it many years ago. Every year in the course of "Financial Markets" that I teach, I recommend that students also learn about it as supplementary materials. In 2001, when the "Enron" incident occurred, these students have not yet graduated from elementary school... In the content of the Information System Control lecture this afternoon, Erron's case was mentioned again, so I watched this documentary again last night. In fact, Erron’s problem is not just an issue of "accounting fraud." In the early days, they actually forced the SEC to modify some accounting standards. The reason for these changes is not in Erron, but in the reality of the regulator; in addition, Erron is in California The problems created are far beyond the scope of business...
I still recommend that all master students should watch this documentary
I still recommend that all master students should watch this documentary
Extended Reading
Enron: The Smartest Guys in the Room quotes
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Kenneth Lay: [Q&A session with employees] All right, we are down to questions. And I got a few up here.
[reads question from the floor]
Kenneth Lay: 'I would like to know if you are on crack, if so that would explain a lot. If not, you may want to start because it's going to be a long time before we trust you again.'
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Jeffrey Skilling: Oh I can't help myself. You know what the difference between the state of California and Titanic? And this is being webcast, and I know I'm going to regret this - at least when the Titanic went down, the lights were on.