Enron: The Smartest Guys in the Room

On 2nd December 2001, that's like 24 years ago this week. On this day, Enron, once hailed as a titan of corporate innovation and the seventh largest company in the United States, filed for Chapter 11 bankruptcy, triggering one of the largest financial scandals in history. The company’s collapse was rooted in widespread accounting fraud and deceitful financial practices that misled investors and employees alike, ultimately eroding public trust in corporate governance and the financial markets. This seismic event not only led to the loss of thousands of jobs and billions in shareholder value but also prompted significant regulatory reforms, including the Sarbanes-Oxley Act, aimed at enhancing transparency and accountability in corporate America. Enron's downfall serves as a cautionary tale about the perils of unchecked ambition and the importance of ethical practices in business, making it a critical point of study for anyone interested in the intersection of finance and ethics.