America's Most Innovative Company Was Hiding Billions: The Fall of Enron

In 2000, Fortune named Enron America's most innovative company, for the fifth year in a row. Its stock hit $90. Fifteen months later, it was worth 61 cents, and Enron filed the biggest bankruptcy in U.S. history up to that point. This is the story of how Enron counted tomorrow's money today: mark-to-market accounting, hidden partnerships run by its own CFO, a $110 million "profit" from a movie-streaming pilot with Blockbuster, and an auditor that went down with it. What you'll learn: • How mark-to-market accounting worked at Enron • What the LJM and Raptor partnerships were hiding • The reporter and the employee who saw it coming • How Enron collapsed in seven weeks • The law that changed because of it: Sarbanes-Oxley Would you have put your retirement savings in Enron stock? Tell me in the comments. Next: FTX, the crypto exchange that went from $32 billion to bankruptcy in about ten days. Photos (Wikimedia Commons): Enron Complex by Alex (CC BY 2.0); U.S. Supreme Court by Joe Ravi (CC BY-SA 3.0); Enron logo by Paul Rand, U.S. Capitol by Noclip, and Lay and Skilling booking photos, public domain. #Enron #TrueCrime #Finance #WallStreet #Documentary #Business #Money