Wendy Grammformer Chair of U. In one meeting on February 12,the committee met for an hour and a half. Ethical explanations centered on executive greed and hubris, a lack of corporate social responsibility, situation ethics, and get-it-done business pragmatism. In reality, Skilling had moved other employees to the office from other departments instructing them to pretend to work hard to create the appearance that the division was larger than it was.
But among the one-third paying a lot of attention, the figures are even more dramatic: One wrong thing Enron executives did was to sell their own company stock while preventing most employees from selling theirs.
By more than nine to one, the public thinks this should not have been allowed. Another mistake was to approach the government to ask for assistance, which Enron executives did several times last fall. By 52 percent to 34 percent, the public thinks that was not appropriate. The negative margin is even higher among those more closely following the story.
On the other hand, by 54 percent to 28 percent, Americans say the Bush administration did the right thing by NOT intervening to help Enron. So far most of them are not worried that what happened to Enron employees could happen to them. Americans want the government to take action in some circumstances, but not in all.
Just 27 percent say the government should never intervene in those cases; 59 percent think it should. Younger adults are the most likely to supprt government intervention in both cases.
The rise in President George W. A similar percentage, 35 percent, says the energy industry has too much influence. And while the majority of Americans think many public officials make or change policy decisions based on campaign contributions, fewer think anyone in the Bush administration has done so, and even fewer think the president has.
Perceptions of George W. More Democrats than Republicans think campaign contributions have influenced the policies of Mr. Bush and his administration.
Among those who did think Enron had influence, most say that influence was inappropriate. Those paying a lot of attention to the story are more suspicious of the administration than those who are not. They also are more likely to think that members of the Bush administration have traded favors for contributions.
Although less than one in ten thinks members of the Bush administration have lied about their dealing with Enron executives, just under half think they are hiding something.Second, the case illustrates a need for more responsible public servants, not more laws.
The Private Securities Litigation Reform Act relaxed the restrictions that would have checked the behaviors that led to the Enron scandal. Jan 29, · As Enron's managing director for research, Mr. Kaminski was responsible for quantitative modeling to assist the energy traders and other parts of the business.
Mr. Kaminski's disgust with Mr. Fastow's deals eventually exploded into an internal war with Enron's global finance department in the fall of Enron was a U.S. energy-trading and utilities company that perpetuated one of the biggest accounting frauds in history.
While those responsible for the scandal were the senior executives, who. Jan 16, · Bush was Enron's best friend -- and look what happened.
That's why the White House can't escape part of the blame for Enron. Enron is the poster child for the Bush economy. A large scandal involving the public company Enron showed the American public and its representatives in Congress that new compliance standards for public accounting and auditing were sorely needed.
Enron was one of the biggest and, it was thought, one of the most financially sound companies in . Second, the case illustrates a need for more responsible public servants, not more laws.
The Private Securities Litigation Reform Act relaxed the restrictions that would have checked the behaviors that led to the Enron scandal.