Soft Money Allegations Of Political Corruption And Enron

Preface; Enron: A Select Chronology of Congressional, Corporate, and Government Activities; Enron and Stock Analyst Objectivity; Soft Money, Allegations of Political Corruption, and Enron; Enron: Selected Securities, Accounting, and Pension Laws Possibly Implicated in Its Collapse; The Enron Collapse: An Overview of Financial Issues; Auditing and Its Regulators: Proposals for Reform after Enron; Enron's Banking Relationships and Congressional Repeal of Statutes Separating Bank Lending from Investment Banking; Enron Bankruptcy: Issues for Financial Oversight; The Enron Bankruptcy and Employer Stock in Retirement Plans; Enron and Taxes; Title vs Enron Corp. and Fiduciary Duties Under ERISA; Possible Criminal Provisions Which May Be Implicated in the Events Surrounding the Collapse of the Enron Corporation; Index.

Throughout history, gaining political power has frequently led to unethical behavior. It is difficult for people to resist the temptation to abuse their power. In the worst cases, this has led to political unrest, economic instability, and genocide. Readers learn what political corruption is, how it affects citizens' lives, and what can be done about it. Historical and modern examples are provided to give readers a comprehensive view of this important and timely topic. Informative charts and full-color photographs enhance the engaging text to show young adults the importance of civic engagement and political scrutiny to combat corruption.

How does America manage crisis on behalf of international finance in the absence of a global state? Doyran explores the relationship between state power and global finance and in particular examines the various attempts by the US state at financial crisis management. The case studies highlight the dramatic consequences of the rise of financial capitalism in the US economy, and also explore regulatory sources of market failures, systemic risk and moral hazard. This book focuses on this primary issue facing scholars of American power in various social science disciplines, including political science, finance and international relations, professional financial analysts and Government officials. This book is for the critical reader who is interested in financial policy and wants to learn more about the causes and consequences of the rise of financial markets.

A Brookings Institution Press and American Enterprise Institute publication A few years ago, Americans held out their systems of corporate governance and financial disclosure as models to be emulated by the rest of the world. But in late 2001 U.S. policymakers and corporate leaders found themselves facing the largest corporate accounting scandals in American history. The spectacular collapses of Enron and Worldcom—as well as the discovery of accounting irregularities at other large U.S. companies—seemed to call into question the efficacy of the entire system of corporate governance in the United States. In response, Congress quickly enacted a comprehensive package of reform measures in what has come to be known as the Sarbanes-Oxley Act. The New York Stock Exchange and the NASDAQ followed by making fundamental changes to their listing requirements. The private sector acted as well. Accounting firms—watching in horror as one of their largest, Arthur Andersen, collapsed after a criminal conviction for document shredding—tightened their auditing procedures. Stock analysts and ratings agencies, hit hard by a series of disclosures about their failings, changed their practices as well. Will these reforms be enough? Are some counterproductive? 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. While the authors agree that the U.S. system of corporate disclosure and governance is in need of change, they are concerned that policymakers may be overreacting in some areas and taking actions in others that may prove to be ineffective or even counterproductive. Using the Enron case as a point of departure, the authors argue that the major problem lies not in the accounting and auditing standards themselves, but in the system of enforcing those standards.

Political corruption in America is worse today than it has been since the Watergate era. Americans know it, and the politicians have known it for years. Urgent calls for reform have become standard fare, but nothing changes. A Democrat President and a Republican Congress were both elected on the strength of their promises of reform. Neither has delivered. Americans contemplate the tottering remains of our ethically bankrupt political system with despair. Fact: The Christian Coalition's 1994 voter guides appear to have been skewered to favor Republican candidates in key congressional races across the country, in direct contravention of federal election law. The truth is, the politicians couldn't be happier dickering over the remains of the welfare state. Because, as you'll learn in Dirty Little Secrets, there is probably not a politician in America who does not benefit directly, personally, and continually from the status quo. Fact: The state Democratic party in Tennessee paid sums in excess of six figures to a number of groups and organizations for various political services in 1994. The problem? None of the groups actually exist, except on paper. Our Politicians, from those in the highest reaches of the Republican and Democratic parties to those in the humblest state congressional districts, evade, massage, and even break the law in order to hold on to power. But instead of merely unmasking corrupt politicians in every region of the country, Dirty Little Secrets analyzes why corruption persists in American politics, despite scandal after scandal, and in spite of periodic bursts of reform. Fact: On the eve of the 1994 elections, mock "pollsters" called up thousand ofvoters in one Wisconsin congressional district to ask whether their electoral decisions would be influenced if they knew one of the candidates was a lesbian. Most politicians want to do the right thing. But they also want to be reelected, and the system is far stronger than any honest man or woman. The influence of money and the intricacies of the levers of power make it easier for politicians to ignore the law than to obey it. In Dirty Little Secrets you will read of the conservative movement's hidden manipulations in 1994, and learn the truth about Newt Gingrich's twenty-year program of political destabilization. The history of the corrupt House the Democrats built with the help of liberal interest groups stands revealed. And Larry J. Sabato and Glenn R. Simpson expose the corrupt and illegal tactics both parties have used for decades to protect and promote their own power. Fact: In 1994, in Alabama, one local election was decided by three hundred votes. Seventeen hundred ballots cast in that election were illegally admitted absentee ballots, some of them submitted by dead people. Sabato and Simpson's fresh reporting and thousands of hours of background research include interviews with influential politicians, consultants, and political operatives, Freedom of Information Act requests, and thousands of pages of obscure campaign reports. They prove corruption is not about bad apples or colorful local traditions. And they offer a completely original plan for reform--Deregulation Plus--that will frighten both parties and make the American electorate smile for the first time in years. Dirty Little Secrets pulls together the corruption story from all parts of the country sooverwhelmingly that no one--from the White House to your house--will be able to deny that political reform must be one of the key issues of the 1996 election campaign.