1.- How did the corporate culture of Enron contribute to its bankruptcy?
I believe that inside Enron’s headquarters there was a stressful environment,people trying to be rank above the 20% and doing whatever it takes make that happen. The excuse that the Chair Ken Lay was using is that he tried to make peoplereach their full potential, I believe that this is possible but there are different ways to do it.
I think that fear is not one of them, when you terrorize aperson, he or she will transform themselves to avoid that fear, doing unethical and inmoral things.
2.- Did Enron’s bankers, auditors, and attorneys contributeto Enron’s demise? If so, what was their contribution?
I believe that the had a piece of the cake as well, honestly I don’t think that they had no clue aboutwhat was happening in the company. I believe that they are maybe not as guilty as the management, but they could have stop that fraud but they didn’t, I justwonder why?
The bankers, auditors and attorneys contribute with silence and I think they were rewarded to do so.
3.- What role did the chief financial officerplay in creating the problems that led to Enron’s financial problem?
I believe he was trying to cover what the management was doing, we came up with theoff-balance-sheet that caused everything to fall apart catastrophically. He could have stopped the snowball that latter on became a big avalanche.
If he would have acorrect ethical behavior, he would have say that everything was wrong instead of looking a way to manipulate the numbers at his and other managers convenience.