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Taking on Enron and Its Bankers

  • Elise J. Bean
Chapter

Abstract

This chapter examines a Levin-led investigation into Enron whose bankruptcy injured employees, business partners, and the U.S. economy. It details three PSI hearings on the Enron scandal, the first showing how the Enron Board of Directors allowed the company to engage in high-risk accounting, conflicts of interest, and excessive executive pay; the second exposing the role of financial institutions like Citibank, JPMorgan Chase, and Merrill Lynch in Enron’s deceptive financial reporting; and the third tracing Enron’s use of an abusive tax shelter called Slapshot. The chapter shows how the Enron hearings helped lead to the enactment of the Sarbanes-Oxley Act as well as a jail sentence for a corporate executive who lied to PSI investigators.

Copyright information

© The Author(s) 2018

Authors and Affiliations

  • Elise J. Bean
    • 1
  1. 1.Levin Center at Wayne LawWayne State University Law SchoolDetroitUSA

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