The author of the award-winning trilogy A Financial History of the United States now provides a definitive new reference or the major failures of American corporate governance at the start of the 21st century. An essential resource for students, teachers and professionals in business finance, and securities law, this exhaustive work provides in-depth coverage of the collapse of the Enron Corporation and other financial scandals that erupted in the wake of the market downturn of 2000. The authoritative volume traces the market boom and bust that preceded Enron's collapse, as well as the aftermath of that failure, including the Enron bankruptcy proceedings, the prosecution of Enron officials, and Enron's role in the California energy crisis. It examines the role of the SEC's full disclosure system in corporate governance, and the role of accountants in that system, including Arthur Andersen LLP, the Enron auditor that was destroyed after it was accused of obstructing justice. The author chronicles the meltdown in the telecom sector that gave rise to accounting scandals at Nortel, Lucent, Qwest, Global Crossing, Adelphia, and WorldCom. He traces other accounting and governance failures at Rite Aid, Xerox, Computer Associates, AOL Time Warner, Vivendi, HealthSouth, and Hollinger. Markham also covers such Wall Street scandals as the Martha Stewart trial, the financial analyst conflicts, and the mutual fund trading abuses. He analyzes the Sarbanes-Oxley legislation that was adopted in response to these scandals, the burdens it imposes, and continuing flaws in full disclosure. Markham also traces the remarkable market recovery that followed the scandals and addresses the misguided efforts of corporate governance reformers that led to the abuses.
" This book's accessible writing will interest the casual business reader as well as the seasoned investor.
A History of American Financial Scandals Scott B. MacDonald, Jane E. Hughes. ated a space-age risk management ... Gibson was woefully unprepared to play in the derivatives markets with sharks like BT. Nonetheless, treasurer Jim Johnsen ...
Provides a comprehensive financial history of the United States which focuses on the growth and expansion of banking, securities, and insurance from the colonial period right up to the incredible growth of the stock market during the 1990s ...
H.J. Mettenheim published the Auditor's Guide in 1869. This book reflected the increasing importance of audit work, which sought to verify accounts and act as a check against fraud and error. Audits were then used mostly to verify the ...
Are other shortcomings in the disclosure system still in need of correction? These are among the questions that George Benston, Michael Bromwich, Robert E. Litan, and Alfred Wagenhofer address in Following the Money.
Billions of dollars continue to be lost by companies and investors due to the pervasive impact of manipulative, self-serving executives. Financial scandals aren't unknown in U.S. business history, but today's...
The public pension plans had another beef with private equity. State and municipal pension funds were among the largest investors in private equity. Those pension plans paid private equity fees of some $17 billion in the first decade of ...
Public utility ownership in 19th century America: The “aberrant” case of water. University of Michigan Business School. Mimeograph. McCarthy, Michael P. 1987. Typhoid and the politics of public health in nineteenth century Philadelphia.
The Fundamental Flaws in Corporate America and Where They Came From David Skeel. This page intentionally left blank Acknowledgments T hanks go first to David Kairys and Dedi.
Ian Klaus’s Forging Capitalism demonstrates how international financial affairs in the nineteenth century were conducted not only by gentlemen as a noble pursuit but also by connivers, thieves, swindlers, and frauds who believed that no ...