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Abstract

Shocked, Shocked! Enronian Myths Exposed

Frank, Thomas | April 8, 2002 issue

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This article focuses on the revealation of the financial status of U.S. energy giant Enron Corp. The connivance of the legislators with the company was exposed. Clever Enron executives were trying to fabricate the account of the company. The tricks to make change in accounts were failed. Enron had to amend its profits for the past few years by hundreds of millions of dollars. Naturally, this destroyed investor's faith in Enron management. It resulted into the drastic drop in the company's share price and a downgrading of its debt rating, leading immediately to bankruptcy.

See Also:

COMMERCIAL crimes; ENRON Corp.; FINANCIAL crises; UNITED States -- Politics & government; LEGISLATORS; UNITED States

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