Enron and Derivatives
University of San Diego School of Law
This paper was written in response to a request by the United States Senate Committee on Governmental Affairs for testimony on Enron's involvement in financial derivatives. The paper argues
that Enron essentially was a derivatives trading firm, not an energy firm. It explains the transactions Enron used to generate false profits and to hide losses, and the failure of Enron's internal controls with respect to derivatives trading. It also addresses the question of why key gatekeepers - including
banks, accounting firms, law firms, and credit rating agencies - failed to uncover information about these transactions and control failures. The paper is based on interviews of current and former Enron employees, and on a review of key Enron documents.
Number of Pages in PDF File: 32
Date posted: February 28, 2002
© 2015 Social Science Electronic Publishing, Inc. All Rights Reserved.
This page was processed by apollo7 in 1.156 seconds