TITLE

Enron ALL OVER AGAIN

AUTHOR(S)
McLean, Bethany
PUB. DATE
November 2007
SOURCE
Fortune International (Europe);11/26/2007, Vol. 156 Issue 10, p46
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article discusses causes of the U.S. financial crisis and compares the 2007 crisis to the corporate accounting scandals of 2001. Financial firms acquired massive amounts of off-balance sheet investments known as structured investment vehicles (SIV). Just as fraudulent accounting methods led the collapse of the energy trading company Enron in 2001, credit rating agencies that should have known SIVs were poor quality investments may have had conflicts of interest in evaluating them.
ACCESSION #
27608103

 

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