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How the Enron Scandal Changed American Business Forever

1 month ago   |   By Time

It's the kind of historic anniversary few people really want to remember.
In early December 2001, innovative energy company Enron Corporation, a darling of Wall Street investors with $63.4 billion in assets, went bust. It was the largest bankruptcy in U.S. history. Some of the corporation's executives, including the CEO and chief financial officer, went to prison for fraud and other offenses. Shareholders hit the company with a $40 billion lawsuit, and the company's auditor, Arthur Andersen, ceased doing business after losing many of its clients.
It was also a black mark on the U.S. stock...
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