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The collapse of Enron, the giant energy trading company, served the purpose of causing the loss of appeal of the United States service industries to foreign investors greater even than the loss of confidence in energy, since the seeming inability of its auditor, Arthur Andersen, to head off trouble. ... But a series of accounting scandals, culminating with Enron, and the increased use of questionable ways companies report their financial results, appear to have shaken that notion somewhat (Pfanner).
There is no sign yet that people have lost confidence in corporate America, however the ripple affect caused by the collapse of Enron, have caused the contemplation of new laws similar to European laws. ... Bushs economic team, led by Lawrence Lindsey, a former Enron adviser, conducted an internal review of whether the companys collapse would hurt the overall economy and concluded there was little risk, Reuters reported from Washington. ... Lindsey and other aides were "doing their jobs" by reviewing the collapse of Enron, Mr. ... Their numbers include everyone who lost money by trusting the financial reports Andersen approved for Enron and other companies.
Approximate Word count = 849
Approximate Pages = 3.4
(250 words per page double spaced)
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