Synopsis
What went wrong with American business at the end of the 20th century?
Until the spring of 2001, Enron epitomized the triumph of the New Economy. Feared by rivals, worshiped by investors, Enron seemingly could do no wrong; its leaders were hailed as visionaries. Then, in March 2001 a young Fortune writer, Bethany McLean, wrote an article posing a simple question - how, exactly, does Enron make its money?
Within a year it was revealed that Enron was a company whose business was an illusion, fuelled by billions of dollars in transactions and off-balance deals that stretched-and broke- the rules. Scandal and investigation led to humiliation and bankruptcy, the largest in US history. It was an event that sent shivers around the world, tainted the President, and called into question a system that rewarded top insiders with millions of dollars, while small investors lost everything.
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About the Author
Bethany McLean was a former investment banking analyst for Goldman, Sachs. She is a senior writer at Fortune. Elkind, an award-winning investigative reporter, is the author of The Death Shift. He has written for Fortune, The New York Times Magazine and The Washington Post
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