Conspiracy of Fools Report

Conspiracy of Fools Report - Xavier Baquero 10-0126...

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Xavier Baquero 10-0126 Financial Statement Analysis Professor Shindell Conspiracy of Fools: A True Story Book Report Enron was a $100-billion-a-year company in October 2001--America's seventh-largest. The Houston-based energy firm enjoyed warm ties with newly installed President George W. Bush. Earnings were up 26 percent from the previous quarter, while Fortune magazine had named Enron the country's most innovative company six years in a row. Less than two months later, Enron filed for bankruptcy in the biggest corporate failure in history. Enron became synonymous with the greed and fraud of the go-go high-tech stock bubble of the late 1990s--the worst of a series of spectacular corporate collapses that also took down WorldCom, Tyco, and Global Crossing. What went wrong? Veteran New York Times financial journalist Kurt Eichenwald does an epic job of telling Enron's story in his 742-page tome Conspiracy of Fools . Eichenwald, a finalist for the Pulitzer Prize in 2000, also authored The Informant
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