What went wrong with American business at the end of the 20th century? Until the spring of 2001, Enron epitomized the triumph of the New Economy.
Then a young Fortune writer, Bethany McLean, wrote an article posing a simple question how, exactly, does Enron make its money? Within a year Enron was facing humiliati.
Its profits rose every year; its stock price surged ever upward; its leaders were hailed as visionaries.
Feared by rivals, worshipped by investors, Enron seemingly could do no wrong.
What went wrong with American business at the end of the 20th century? Until the spring of 2001, Enron epitomized the triumph of the New Economy