The deregulation was forced through by legislators to whom Enron paid out massive contributions..." (Levy, 2005) The fraud was primarily comprised of "cooking the books to make it look as if the company's finances were consistently rosy, so that share prices would steadily keep rising." (Levy, 2005) More than 30 individuals have received criminal charges since 2001 connected to their dealing with Enron which incidentally "was just one of several

This caused the California Energy crisis to become worse by: encouraging traders to engage in actions that would directly increase the wholesale costs. Despite the fact, that there were more than enough supplies to deal with the situation. As a result, traders embraced the directives of Skilling and the company itself by overlooking the ethics of society and focusing on those of the organization. (Cline, 2011) ("Business Ethics," n.d.,

Later in the year, this same task force, including Cheney, recommended Enron as a company that was upstanding and endorses its many proposals. This further complicated the Enron image giving it further clout to conduct business in an unethical manner. By the end of this year, many of Enron's top executives, including Skilling, begin selling off their shares of company stock. This occurs before it is revealed to shareholders

Enron could engage in their derivative trading strategy with no fear of government intervention because derivative trading was specifically exempted from government regulation. Due in part to a ruling by the Commodity Futures Trading Commission's (CFTC) chairwoman, Wendy Graham, derivatives remained free of regulatory oversight. Ms. Graham, wife of Texas senator Phil Graham, made this ruling 5 weeks before resigning as chairwoman of the CFTC and joining the Enron Board

Enron Scandal: Who was Responsible and Why? Background of Enron Scandal and Timeline of Events Key Players in Enron Scandal The Enron Scandal was the biggest accounting fraud in U.S., indeed worldwide, business history. The following paper gives a brief history of the events leading up to the scandal, a timeline for the events surrounding the uncovering of the scandal and the events following the public knowledge of the scandal. Key players in

Enron Identify one of the examples of financial reporting misconduct associated with the Enron scandal In the wake of the stratospheric success and subsequent fall of Enron, many were compelled to ask: how could this be possible, namely how could a firm which seemed so successful on the surface be so corrupt at its core? The answer, although not simple, can be boiled down to this: creative financial accounting. While Enron deployed