| Is there any similarities beweetn current Wallstreet Crisis and Enron Scadal |
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birth
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Is there any similarities beweetn current Wallstreet Crisis and Enron Scadal
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Underground
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yeah. mortgage lenders issued bad mortgages by misrepresenting the risk and subsequently passed the risk off onto banks.
it is quasi-mortgage fraud, but so rampant, no single person can be held accountable.
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Gerardo
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No. The Enron scandal resulted from too little regulation whereas the current Wallstreet mess was caused by too much regulation (forcing banks to make sub prime loans and the Sarbanes-Oxley Bill). Also the Enron Scandal was not nearly as bad for the economy.
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pill
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Coach
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No. Enron was outright accounting and investor fraud perpetrated by one company.
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