The Conflict

In November 2001 Enron, the United States' seventh largest corporation, issued a statement drastically revising its stated profits over the past three years. Within a month, the company was forced to declare bankruptcy—the largest bankruptcy in business history—and numerous charges surfaced that the company had engaged in a repeated pattern of un-ethical and perhaps illegal practices. In addition to shareholder and employee lawsuits, Enron's executives also faced potential criminal charges for their roles in the scandal.

Political

• Enron contributed money to both major political parties and had close ties with Texas's Republican political establishment, including the Bush family. Critics of Enron's political efforts called for the George W. Bush administration to disclose its ties to Enron.
• Enron owed much of its growth in energy commodities trading to the deregulation of the energy industry in the...