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Non-Tech : The ENRON Scandal
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To: Roger A. Babb who wrote (550)1/16/2002 12:10:44 PM
From: Karen Lawrence  Read Replies (1) of 5185
 
Roger
The Enron mess and Andersen's part in it spells ruin for Andersen. Any company that uses Andersen is now stigmatized. I think Andersen believed Enron would be the Number 1 company in the world and untouchable, which could be why they colluded. Could have been the money, looked good for the partner while it lasted. It's interesting that although the Enron inner circle knew of problems in August, it wasn't until late December Andersen announced some of Enron's practices might be illegal. Probably Enron hadn't paid them in months. It looks like Andersen will go down with Enron, and that was a choice they made rather than produce the subpoenaed papers. What could be worse than destroying a company, the first of the then Big 8 accounting firms. What? It's frightening.

Thus one must conclude that the information being destroyed was of greater potential damage than the penalties for the destruction</>
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