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Resource ID: #18758
Source:Bloomberg News (New York)
Bloomberg reports on the collapse of the Enron Corp. The three part series reveals that the company had close ties and had enriched financial analysts who overwhelming backed the company despite red flags in the end of 2001; that former Enron Chief Financial officer Andrew Fastow was behind the engineered network of Enron's off-balance-sheet entities; and that an online venture called NewPower designed the conquer the deregulating energy retail market strategy that contributed to Enron's slide into bankruptcy. The file includes a Bloomberg Markets article of May 2001 that contains some preliminary findings on Enron's questionable deals and accounting practices.