{"id":486,"date":"2007-01-16T23:11:37","date_gmt":"2007-01-17T04:11:37","guid":{"rendered":"http:\/\/www.sequence-inc.com\/fraudfiles\/2007\/01\/16\/sherron-watkins-on-enron\/"},"modified":"2007-01-17T01:13:58","modified_gmt":"2007-01-17T06:13:58","slug":"sherron-watkins-on-enron","status":"publish","type":"post","link":"https:\/\/www.sequenceinc.com\/fraudfiles\/sherron-watkins-on-enron\/","title":{"rendered":"Sherron Watkins on Enron"},"content":{"rendered":"<p><a href=\"http:\/\/www.fraud-magazine.com\/\">Fraud Magazine<\/a> editor Dick Carozza did an interview with Sherron Watkins, the internal [tag]whistleblower[\/tag] who started raising hell at [tag]Enron[\/tag] when she started discovering problems with the numbers.  He asked Sherron why the Enron [tag]fraud[\/tag] happened&#8230; whether management lost its way or whether the company was destined for problems.  Sherron&#8217;s answer:<\/p>\n<blockquote>\n<p>Many experts summarize &#8220;what happened&#8221; at Enron using two words, greed and arrogance. An accurate summary, I agree, but it fails to help others learn from Enron&#8217;s demise. How did greed and arrogance run amok at Enron? How did a company&#8217;s culture breed not only corruption from its own employees but also disreputable behavior from the outside auditors, lawyers, consultants, and lenders?<\/p>\n<p>&#8230;<\/p>\n<p>What happened? It was a complete breakdown in moral values. But the scary part is that the breakdown was not done by outright intention but more by small steps in the wrong direction.<\/p>\n<p>&#8230;<\/p>\n<p>Enron&#8217;s leaders set the wrong tone, so did Arthur Andersen&#8217;s leaders. [Arthur Andersen was Enron&#8217;s external auditor.] In the end, both companies put revenues and earnings above all else &#8211; the means by which those earnings were generated did not matter. Were laws broken? Yes. Were lives devastated by it? Yes.<\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Fraud Magazine editor Dick Carozza did an interview with Sherron Watkins, the internal [tag]whistleblower[\/tag] who started raising hell at [tag]Enron[\/tag] when she started discovering problems with the numbers. He asked Sherron why the Enron [tag]fraud[\/tag] happened&#8230; whether management lost its [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[5],"tags":[],"class_list":["post-486","post","type-post","status-publish","format-standard","hentry","category-fraud-news-stories"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p6Z0e-7Q","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/posts\/486","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/comments?post=486"}],"version-history":[{"count":0,"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/posts\/486\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/media?parent=486"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/categories?post=486"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/tags?post=486"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}