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→Demise
==Demise==
==Demise==
The Enron scandal occurred when Enron, a Blue Chip stock, was revealed to have far more debt than realized. Top officers misled shareholders and some transactions did not appear on the company's financial records using "future value accounting," whereby they were reporting profits based on projected future earnings rather than actual earnings.<ref>https://www.bloomberg.com/apps/news?pid=newsarchive&sid=aJBMW5XuxQPM&refer=us</ref> The stock dropped from $90 a share to mere pennies. It is considered to be one of the largest bankruptcies in history.
The Enron scandal occurred when Enron, a Blue Chip stock, was revealed to have far more debt than realized. Top officers misled shareholders and some transactions did not appear on the company's financial records using "future value accounting," whereby they were reporting profits based on projected future earnings rather than actual earnings.<ref>https://www.bloomberg.com/apps/news?pid=newsarchive&sid=aJBMW5XuxQPM&refer=us</ref> The stock dropped from $90 a share to mere pennies. It is considered to be one of the largest bankruptcies in history.
==DOJ Enron Task Force==
[[Andrew Weissmann]] prosecuted the Big 5 accounting firm Arthur Andersen LLP. Weissmann argued that Arthur Andersen had covered up for Enron and convinced the judge to instruct the jury that they could convict the firm regardless of whether its employees knew they were violating the law. That ruling was later overturned by the [[Supreme Court]] in a 9-0 ruling, in which the court held that "the jury instructions failed to convey the requisite consciousness of wrongdoing."<ref>{{cite news|last1=Willman|first1=David|title=Mueller deputy Andrew Weissmann has a reputation for hard-charging tactics — and sometimes going too far|url=https://www.latimes.com/politics/la-na-pol-trump-weissmann-20180216-story.html|accessdate=|publisher=Los Angeles Times|date=19 February 2018}}</ref> 85,000 jobs were destroyed by indicting the whole company and not just its board of directors.<ref>https://dailycaller.com/2017/11/20/meet-the-very-shady-prosecutor-robert-mueller-has-hired-for-the-russia-investigation/</ref> [[Kathryn Ruemmler]] worked with Weissmann on the case.
==Aftermath==
==Aftermath==