Enron scandal

Many of the biggest corporate accounting scandals in history happened during that time.

Enron scandal

An accident waiting to happen?: The failure of HBOS. BBC, 28 July MPs warn of public fury at size of fines for wrongdoing, most of which will go to US watchdogs. The Independent 16 January BBC, 15 August Bank boss leaves after hiding criticism of 'revenue at all costs' strategy at US Wealth arm.

The Independent, 21 January Barclays fined for attempts to manipulate Libor rates Barclays has been fined? The fine is part of an international investigation into the setting of interbank rates between and BBC, 27 June Goldman Sachs bowed to pressure and decided not to delay bonus payments to benefit from a lower rate of tax, just hours after Bank of England Governor Sir Mervyn King attacked the plans as?

The Telegraph, 15 January A former Goldman Sachs board member has been found guilty of four criminal counts of insider trading by a federal court in New York. BBC, 15 June An anti tax-avoidance campaign group has won permission from the high courts to have a "sweetheart" deal between HMRC and the banking giant Goldman Sachs judicially reviewed for its legality.

Guardian, 13 June The resignation letter of Greg Smith, Goldman Sachs executive director and head of the firm? New York Times, March 14, Muppet letter is everyone's fantasy Many of us have imagined writing a letter of resignation that shakes our bosses to the core, but few have actually done it, and rarely even then has the letter been read by millions.

Greg Smith, who quit Goldman Sachs this week, has realised our fantasy. BBC, 15 March Goldman Sachs made more than a quarter of a billion pounds last year by speculating on food staples, reigniting the controversy over banks profiting from the global food crisis.

The Independent, 20 January The great hunger lottery - How banking speculation causes food crises In The Great Hunger Lottery, the World Development Movement has compiled extensive evidence establishing the role of food commodity derivatives in destabilising and driving up food prices around the world.

This in turn, has led to food prices becoming unaffordable for low-income families around the world, particularly in developing countries highly reliant on food imports. Guardian, 16 July Daily Telegraph, 19 April Royal Bank of Scotland directors will be obliged to consider legal action against Goldman Sachs if the US Securities and Exchange Commission succeeds in its fraud case against the American banking giant, say lawyers.

The Scotsman, 19 April How the nation's biggest banks are ripping off American cities with the same predatory deals that brought down Greece, by Matt Taibbi, Rolling Stone, March 31, Goldman Sachs and other big banks aren't just pocketing the trillions we gave them to rescue the economy - they're re-creating the conditions for another crash, by Matt Taibbi, Rolling Stone, February 17, A special report from Time Magazine.

The Commission was established by Althingi, the Icelandic Parliament, in Decemberto investigate and analyse the processes leading to the collapse of the three main banks in Iceland. Former Anglo Irish Bank bosses, Sean FitzPatrick, Pat Whelan and William McAteer are on trial for their alleged role in pushing the country's finances to the brink of collapse, prompting the bailout and austerity.

Behind the Enron Scandal - TIME

Sky News 5 February A video by Jonathan Jarvis created with the aim of giving form to a complex situation like the credit crisis by quickly supply the essence of the situation to those unfamiliar and uninitiated. A series of articles in the Guardian where writers look at the real story behind the economic slump discussing how boom turned to bust, who's to blame, and ways out of the mess we're in.

News on developments from the BBC. News about the crisis from the Guardian. A blow-by-blow account of developments from the Guardian. An article from the Wikipedia.Background of the Banks' Role in the Enron Debacle.

As a result of the massive fraud at Enron, shareholders lost tens of billions of dollars. Many Enron executives, Enron's accounting firm and certain bank officials were indicted.

Enron Scandal: The Fall of a Wall Street Darling | Investopedia

The Enron scandal, publicized in October , eventually led to the bankruptcy of the Enron Corporation, an American energy company based in Houston, Texas, and the de facto dissolution of Arthur Andersen, which was one of the five largest audit and accountancy partnerships in the world.

In addition to being the largest bankruptcy reorganization in American history at that time, Enron was. The scandal has also entered the political realm, because of Enron's close links with the White House.

Enron provided millions of dollars to finance Mr Bush's election campaign. Mr Bush was a personal friend of Mr Lay, but has been quick to distance himself from any involvement with the firm.

May 14,  · While Enron may be the crown jewel of corporate prosecutions, it was preceded by guilty verdicts for top execs at Adelphia Communications, Tyco International and WorldCom.

Punishment serves as a deterrent.

On Dvd & Streaming

May 14,  · Enron’s heyday has long ended. But its lessons will long endure. The global business community is now watching a painful new chapter is this saga -- one where its former high-riding chief.

Enron—What Happened?: As began, energy Trader Enron Corp.

Enron scandal

found itself at the centre of one of corporate America’s biggest scandals. In less than a year, Enron had gone from being considered one of the most innovative companies of the late 20th century to being deemed a byword for corruption and mismanagement.

BBC NEWS | Business | Enron scandal at-a-glance