The alleged business practices of its executives led to numerous individual criminal convictions. It was also a principal impetus for the enactment of the Sarbanes-Oxley Act and the evolution of the concept of corporate responsibility. As such, it is one of the most consequential corporate governance developments in history.
The only other corporate collapse that might come close would be Penn Central.
Charles then proceeds to offer a very helpful summary of what went wrong at Enron and how today's directors need to relearn the lessons it offers.
