Tuesday, March 18, 2008

ENRON: The Smartest Guys in the Room

"A story about people--a human tragedy"...

What happens in a corporation, in management, in personnel, that can lead to a multi-billion corporation's going bankrupt in just 24 days?

In light of the run on Bear Stearns last week and the pending US depression (I think we may well be moving beyond "recession"), one wonders whether enough was learned by those banks that were implicated in the ENRON fiasco less than 10 years ago. One also wonders where the thousands of traders went to work in corporate America and how many of them "learned" their ethics at ENRON and neglected to unlearn them.

Transparency today may actually have less to do with openness and honesty and more to do with the lack of substance, financial or otherwise, in front of and behind the products and services that individuals think they are buying.

Technology online offers us the chance to revisit recent history and consider the potential for longer term impacts of events.

Here is a link to a preview of the 1hr49 minute video:
ENRON: The Smartest Guys in the Room

2 comments:

Anonymous said...

Interesting. Perhaps I will watch that clip soon. =)

DL

Mary Spaeth said...

Go for it, DL--and feel free to elaborate on "interesting".