Document Type
Article
Publication Date
2003
Abstract
This article explores the contention of Jeffrey Skilling, former Enron CEO, that Enron's debacle was due to a perfect storm of events. It rejects his contention, arguing instead that Enron's downfall was more like Titanic's - hubris and an over-reliance on checks and balances led to Enron's downfall. The article then explores how character (especially of those at the top of an organization) can lead to Enron-like disasters, and discusses how cognitive dissonance can lead to very smart people making very stupid decisions. It ends with some musings about how lawyers can learn from Enron.
Publication Citation
71 Fordham L. Rev. 1373
Recommended Citation
Rapoport, Nancy B., "Enron, Titanic, and The Perfect Storm" (2003). Scholarly Works. 4.
https://scholars.law.unlv.edu/facpub/4
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Accounting Law Commons, Business Organizations Law Commons, Legal Ethics and Professional Responsibility Commons