Document Type
Article
Publication Date
2002
Abstract
What do we know after Enron's implosion that we did not know before it? The conventional wisdom is that the Enron debacle reveals basic weaknesses in our contemporary system of corporate governance. Perhaps, this is so, but where is the weakness located? Under what circumstances will critical systems fail? Major debacles of historical dimensions – and Enron is surely that – tend to produce an excess of explanations. In Enron's case, the firm's strange failure is becoming a virtual Rorschach test in which each commentator can see evidence confirming what he or she already believed.
Disciplines
Banking and Finance Law | Business Organizations Law | Law | Law and Economics
Recommended Citation
John C. Coffee Jr.,
Understanding Enron: "It's about Gatekeepers, Stupid",
57
Bus. Law.
1403
(2002).
Available at:
https://scholarship.law.columbia.edu/faculty_scholarship/2117
Included in
Banking and Finance Law Commons, Business Organizations Law Commons, Law and Economics Commons
Comments
©2001 by the American Bar Association. Reproduced with permission. All rights reserved. This information or any portion thereof may not be copied or disseminated in any form or by any means or stored in an electronic database or retrieval system without the express written consent of the American Bar Association.