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Topic: Business
Number of pages / Number of words: 4 / 873
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This forced Enron to report losses above $1 billion. The SEC investigated Enron and Fastow was replaced.

Enron drew a $3 billion dollar line of credit and began to pay off its outstanding debt, but this was not enough. In 2001, Enron disclose that it would sustain losses for around $1 billion and would reinstate its financial outcome for the years of 1997, 1998, 1999, 2000 and for year of 2001 the first two quarters, to make right the errors that puffed up Enron $591 million net income...


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The shock of this summary was massive as Enron dropped 91% in stock.

Over 4,000 employees were laid off at Enron during the time in which the SEC was investigating and Enron filing bankruptcy. In December 2001, when congress was investigating Enron, the company declined two congressional hearings.

It was realized that most of the company’s success was a result of passing off the debt and losses onto the partnerships...


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General points of the essay

Enron's Fall Enron & SOX Enron - Ask Why? Enron Downfall Enron Scandal: Who Are Responsible for Enron?¦s Bankruptcy Enron and the fall of the company Enron Enron: From the Beginning to the End Ethics and Enron enron - ethics enron scandal THE FALL OF ENRON The Rise And Fall Of Enron Effects of Enron RISE AND FALL OF ENRON

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