Houston, we have a problem; A financial black hole.(the troubles of Enron, a Texan powerhouse in the energy markets, could result in a new financial crisis)
Economist (US), The, November, 2001
The troubles of Enron, a Texan powerhouse in the energy markets, could result in a new financial crisis
JUST last year, visitors to Enron's glittering headquarters in Houston were greeted by a giant banner that proclaimed the firm, "The world's leading energy company". That annoyed Enron's smaller energy-trading rivals, many of which have offices only a stone's throw away in Houston's Energy Alley, but not as much as what came next--a new banner, declaring Enron "The world's leading company". In recent weeks, as the company has been engulfed by a financial crisis, that banner has quietly been removed.
The heady mix of audacity, ambition and arrogance revealed by the banners is as good a guide as any to Enron's remarkable rise and fall. Forged in...
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