Panel discussion: Enron: What went wrong?

The employees of Enron lost their jobs, and in many instances their life savings. Billions and billions of dollars were suffered by investors. A proud accounting firm is facing ruin, humiliation, and criminal charges to boot. The role of an old, established law firm is yet to be determined. The careers of hundreds of innocent professionals are being tainted and ruined. As if that were not enough, and perhaps worst of all, is the shaking of investor confidence in the integrity of the financial markets. Clearly, the blame for Enron starts with its management, which can be classified, at best, as either grossly negligent, indifferent, greedy, deceitful, and if you believe the Justice Department, downright criminal at times. You also have to blame Arthur Anderson, which largely signed off on much of Enron's conduct. Three distinctive panelists from different perspectives - the media, the accounting profession, and the legal profession - discuss how to prevent future Enrons.