Enron Explained

IT’S now clear that this company was never as big as it seemed. It was, to a large extent, an illusion built on hype, accounting tricks, and outright fraud. Our eyes have now been opened.

Or have they? The generally accepted story of Enron’s demise—the scandal of Enron—is almost equally overblown. Like the company itself, the scandal is largely built on hype, accounting tricks, and fraud.

About the Author

Ramesh Ponnuru

Ramesh Ponnuru is the editor of National Review, a columnist for the Washington Post, and a fellow at the American Enterprise Institute.

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IT’S now clear that this company was never as big as it seemed. It was, to a large extent, an illusion built on hype, accounting tricks, and outright fraud. Our eyes have now been opened.

Or have they? The generally accepted story of Enron’s demise—the scandal of Enron—is almost equally overblown. Like the company itself, the scandal is largely built on hype, accounting tricks, and fraud.