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Bigger
Than Enron |
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The
meteoric rise and stunning collapse of Enron caused many to question why the
watchdog system that was supposed to protect investors failed to sound any
alarms about the company's dubious financial underpinnings. But Enron and
Arthur Andersen are the tip of the iceberg. In the late 1990s, Enron was just
one of the more than 400 corporations forced to dramatically restate their
value because of accounting lapses, failures, or fraud. What went wrong? In Bigger than Enron, FRONTLINE examines an oversight system gone soft. Through interviews with Securities & Exchange Commission officials, corporate executives, members of Congress, and investor advocates, the documentary explores how market deregulation and conflicts of interest between analysts and the companies they were reporting on eroded the system of controls designed to protect stockholders from investment fraud. |
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