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Business Wars

Listen Now: American Scandal

Business Wars

Wondery

History, Business, David Brown, Management

4.613.2K Ratings

🗓️ 2 April 2024

⏱️ 6 minutes

🧾️ Download transcript

Summary

In the 1990s and early 2000s, Enron was like no corporation on earth. It was the ultimate corporate success story. But the key to Enron’s success? Accounting fraud. At the time, the scale of illegal manipulation of the American financial system was unprecedented. The sheer breadth and complexity of Enron’s crimes stunned the world, and in the aftermath, many wondered how such massive fraud could go undetected for so long.

This is just a preview of American Scandal. Listen to the full episode wherever you get your podcasts, or at wondery.fm/american-scandal.

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Transcript

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0:00.0

In the 1990s and early 2000s, Enron was like no corporation on earth.

0:05.0

It was the ultimate corporate success story.

0:08.0

But the key to Enron success?

0:10.0

Accounting Fraud.

0:12.0

American scandal is a podcast from Wundery that takes you deep into the most infamous scandals in American history,

0:18.0

from presidential lies to environmental disasters and corporate fraud.

0:22.0

The story of Enron is one of the largest... mental disasters and corporate fraud.

0:22.9

The story of Enron is one of the largest business scandals in history.

0:27.2

When their earnings started to defy market forces, stock analysts and journalists became

0:32.1

suspicious, and when the company was

0:34.4

revealed to be a fraud it shattered the lives of thousands of employees

0:38.8

leaving wreckage from California all the way to Wall Street. At the dark heart of the scam were

0:44.8

Enron's corrupt leaders and brokers. But they had helped from a vast network of

0:49.7

collaborators including outside legal and accounting companies that covered for them.

0:55.1

At the time, the scale of illegal manipulation of the American financial system was unprecedented.

1:01.2

The sheer breadth and complexity of Enron's crimes stunned the world.

1:06.0

And in the aftermath, many wondered how such massive fraud could go undetected for so long.

1:13.8

You're about to hear a preview of American scandal.

1:16.6

While you're listening, make sure to follow American scandal on the Wundery app or wherever

1:20.4

you get your podcasts. On two,

1:24.0

on the on the On Tuesday, August 14, 2001, the restaurant on Smith Street in Houston is

1:39.5

jam-packed with the seen the numbers and she knows what they mean. The ship has hit the iceberg, it's

...

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