United States: Washington in 2002 ///

It was by any measurement an extraordinary year – 2001 – and a year for which most Americans were glad to see the backside. Two themes predominated: war and recession. Then, in energy (to put the icing on the cake) came the astonishing bankruptcy of Enron, the largest bankruptcy in U.S. commercial history. To start with Enron, what was most curious about the failure was the inability or unwillingness of most everyone to see it coming. This was in spite of rumors and complaints that had been circulating for years in energy circles about the company’s impenetrable accounting.

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