When energy giant Enron imploded in scandal and financial ruin, too many described it as a tale of political cronyism, greed and whatnot. The truth was deeper than that: Enron collapsed because it had turned itself into the poster child for what is wrong with the fractional reserve system and Wall Street as institutions. In short -- far from being simply an energy company -- Enron had been turned into an out-of-control hedge fund...and with the blessing of Alan Greenspan and others. Here's the story: THE REAL CAUSE OF ENRON
The REAL Cause of Enron’s Collapse
When energy giant Enron imploded in scandal and financial ruin, too many described it as a tale of political cronyism, greed and whatnot. The truth was deeper than that: Enron collapsed because it had turned itself into the poster child for what is wrong with the fractional reserve system and Wall Street as institutions. In short -- far from being simply an energy company -- Enron had been turned into an out-of-control hedge fund...and with the blessing of Alan Greenspan and others. Here's the story: THE REAL CAUSE OF ENRON