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 Enron Information Center

The fall of Enron Corp. has exposed shocking regulatory failures by the government and has illustrated once again how corporate interests use political connections and millions in campaign contributions to pull the strings in Washington, D.C.



Enron built its financial house of cards by persuading government officials and politicians to deregulate energy markets, allowing it to trade complex energy commodities in secret all the while using mysterious partnerships and offshore accounts to hide debts and assets from investors and the government. When Enron gained its lucrative control of electricity supplies in California, consumers suffered through repeated blackouts and watched their rates skyrocket, while the Bush administration blamed environmental protections for creating a phony energy "shortage." When Enron collapsed amid allegations of fraudulent accounting, top executives walked away with hundreds of millions of dollars while shareholders and employees were left holding worthless stock and empty retirement accounts.

Enron's implosion cannot be written off as just another business failure or private-sector scandal because Enron was an empire unlike any other, with close ties to the White House and Congress. Public Citizen is pushing Congress to reassert regulatory authority over the markets that Enron abused to the detriment of the public and the economy to ensure that shareholders, workers and consumers are treated fairly. To read Public Citizen reports about Enron and other information about this growing scandal, click here.

 

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