From Enron to Reform

Originally published in 2006, this book describes the Enron era financial scandals that raised widespread concerns over the integrity of U.S. financial markets.

Originally published in 2006, this book examines the collapse of the Enron Corp. and other financial scandals that arose in the wake of the market downturn in 2000. Part 1 reviews the market book and bust that preceded Enron's collapse. It then describes the growth of Enron and the events that led to its sensational failure. Part 2 examines the role of the Securities and Exchange Commission's full disclosure system in corporate governance and the role of accountants in that system. Part 3 reviews the meltdown in the telecoms sector and the accounting scandals that emerged. Part 4 traces the remarkable market recovery that followed the financial scandals and the resumption of the growth of finance in America.

Autorentext

Jerry W. Markham is a professor of law at Florida International University in Miami, USA, where he teaches corporate and international business law.

Inhalt

Part 1: The Stock Market Bubble and Enron 1. Financial Markets 2. Fraud and Abuses 3. Attacks on the Markets Part 2: The Enron Corp. 1. A Company is Born 2. Enron Growth 3. Enron Fails Part 3: The Enron Scandal 1. Enron Finance 2. Prosecution of Enron Executives 3. Bank Involvement 4. California Trading Scandals Part 4: Full Disclosure 1. Full Disclosure Background 2. The Accountants as Gatekeepers 3. Accounting Reform Efforts Part 5. Arthur Andersen and Other Scandals 1. Arthur Andersen & Co. 2. Full Disclosure Fails 3. The Tyco Scandal Part 6: Fiduciary Duties and Corporate Governance Principles 1. Corporate Governance 2. Fiduciary Duties 3. More Fiduciary Duties Part 7: Telecoms and World Com 1. Telecommunications 2. WorldCom 3. Accounting Problems in the Entertainment Industry and Elsewhere Part 8: Analysts and Insider Trading Scandals 1. The Martha Stewart Case 2. Analysts' Scandals 3. Mutual Fund Scandals Part 9: More Scandals and Reform 1. Sarbanes-Oxley 2. Sarbanes-Oxley is No Panacea 3. More Fraud 4. Scandal at the New York Stock Exchange Part 10: Market Recovery 1. The Economy 2. The New Year 2003 3. Banking 4. The Year 2004 Part 11: Reforming the Reforms 1. The Myths of Full Disclosure 2. The SEC Fails 3. Repealing the Federal Securities Law.