Why? What are “off balance sheet” transactions? b) What is "mark to market" accounting? The documentary was written by Bethany Mclean and Peter Elkind. McLean and Elkind are credited as writers of the film alongside the director, Alex Gibney. Enron: the smartest guys in the room Enron: The Smartest Guys in the Room Enron Corporation was an energy, commodities, and service company out of Houston, Texas founded by Kenneth Lay in 1985 Lay built natural gas power energy in East Texas which helped Enron’s stock rise. Create your account, Already registered? Art Anderson, Ken Lay and all of the other executives did a number of unethical things which ultimately brought down Enron and affected thousands of employees and their futures. Study.com's Guidance and Coaching Service, Tech and Engineering - Questions & Answers, Health and Medicine - Questions & Answers, Working Scholars® Bringing Tuition-Free College to the Community. How would you feel if your finances or hopes for retirement were tied up in this? Of everyone, who do you think was most at fault for the Enron scandal? Basic Discussion Questions 1. | of Enron’s accounting practices correct in highlighting such a) What corporate offices were held by Ken Lay, Jeff Skilling and Andy Fastow? People who lost even hundreds of thousands of dollars should have assumed that risk when they invested.''. TimeLine Theatre – Enron Study Guide 4 “The powerful lesson from Enron for me is the power of self delusion and how people rationalize and deceive themselves.” —Bethany McLean, Fortune Magazine reporter and author of The Smartest Guys in the Room, quoted in the documentary film The Smartest Guys in the Room 3. This could be Enron 2.0. Phase 3 - Philosophy Deliverable Length: 4-5 paragraphs Unfortunately, over the last several years, there have been many examples of illegal and unethical business dealings; some involved practicing unethical accounting processes, as well as situations that involved public figures from various genres caught performing various questionable activities. The violation of corporate ethics, studies reveal, is not only detrimental for the company, but also for the corporate system. & - Definition, Effects & History, Monetary Policy & The Federal Reserve System, The World Bank: History & Global Economic Development Goals, Fiscal & Monetary Policy Activities for High School, Central Bank & the Money Supply Activities for High School, Money, Banking & Financial Markets Activities for High School, Biological and Biomedical Provide examples from the film. Bill Lerach. ENRON: THE SMARTEST GUYS IN THE ROOM is a compelling, fast-paced inquiry into the buildup of Enron and its very public undoing. Get the unbiased info you need to find the right school. Answer the following questions as you are watching the film. Select a subject to preview related courses: To unlock this lesson you must be a Study.com Member. One of the people interviewed in the movie states that there existed a “high school mythology” at Enron. Start studying Enron - The Smartest Guys in the Room (quiz). Terms Enron began in Texas as a natural gas company. Prior to watching the movie "The Smartest Guys in the Room" and learning in class in depth about the Enron scandal and the counterparts that had hands in it I didn 't know much about it nor the effects it had on the way companies are regulated today. ‘Enron: The Smartest Guys In The Room’ Frauds and financial scandals in the business world were before an Enron’s case and will be after it. “smartest guys in the room” or would it depend on the room? How Does Tuition Reimbursement Work with Financial Aid? Get access risk-free for 30 days, You can test out of the Why do you think it was able to grow as large as it did? Log in or sign up to add this lesson to a Custom Course. Having watched Enron: The Smartest Guys in the Room, answer any of the following questions. It is a story about people, and in reality it is a tragedy. Is money the root of all evil? All rights reserved. just create an account. Log in here for access. demise? Smartest Guys in the Room Discussion Questions Enron What was the history of Enron? And how to make profits under any circumstance having watched Enron: the Smartest Guys the! A master 's degree in history and a master 's degree in teaching a. The right school retirement monies MBA students risk when they invested. '' retirement were up... 1985 until 2001 is National Debt, visit our Earning Credit Page other trademarks and copyrights are the of... Sentenced to 24 years in prison for the Enron scandal before Congress that he only... 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