In the late 1990s, Enron was just one of the more than 400 corporations forced to dramatically restate their value because of accounting lapses, failures or fraud. + Enron -- What's the Fix? googletag.cmd = googletag.cmd || []; AIRDATE: Thursday, June 20, 2002. "The collapse of Enron caused many to question the watchdog system designed to protect investors. Instead, after prolonged criticism for moving too slowly and being too soft on the accounting firms, SEC Chairman Harvey Pitt has taken the initiative, announcing on June 20 his proposal for a new Public Accountability Board. Course. There are no critic reviews yet for Frontline - Bigger Than Enron. During the past decade, the accounting industry has flexed its lobbying muscle on Capitol Hill as never before, and Smith examines the three major political battles of the decade's accounting wars: the fight over stock options, the fight over tort reform, and the all-out war over SEC Chairman Arthur Levitt's attempt to rein in conflicts of interest by forcing accounting firms to separate their auditing and consulting practices. What went wrong? But Enron and Arthur Andersen are the tip of the iceberg. Now, FRONTLINE examines an oversight system gone soft"--Container questions for investors + interviews + discussion + correspondent's chat + tapes + transcripts }); An unprecedented account of the crisis inside the Fukushima Daiichi nuclear complex after the devastating earthquake and tsunami. + Producer's Notebook You will have to watch this movie and answer questions. A synopsis of FRONTLINE's "Bigger Than Enron." (function() { "The collapse of Enron caused many to question the watchdog system designed to protect investors. [an error occurred while processing this directive] Dear FRONTLINE, I thought Bigger Than Enron was an excellent program. This is a DVD re-release of a 2002 PBS Frontline VHS release documenting the deeper nature of corporate fraud and corruption as it stood then and that extends beyond Enron and its auditors to many other firms. In a special two-part investigation, FRONTLINE reveals the hidden story of the NFL and brain injuries. But so far no bill has passed both chambers and been signed into law. gads.src = (useSSL ? What makes tonight's Frontline a must-see for anyone interested in the business pages and the prospects of happier days ahead for employees, pensioners, investors, et al, is that Frontline's investigation seeks the hows and whys of what happened, not just at Enron, but going back to the 'investor frenzy' of the '90s. The meteoric rise and stunning collapse of Enron caused many to question why the corporate oversight system that was supposed to protect investors failed to sound any alarms about the company's dubious finances. The SEC's investigation found a longrunning cover-up -- not just by Waste Management, but by Andersen as well. gads.type = 'text/javascript'; '//www.googletagservices.com/tag/js/gpt.js'; Enron's collapse in late 2001 galvanized Congress and brought urgent calls for reform. Now, FRONTLINE examines an oversight system gone soft"--Container Through interviews with current and former SEC officials (including SEC Chairman Harvey Pitt and his predecessor, Arthur Levitt), Arthur Andersen executives (including former Andersen CEO Joseph Berardino), members of Congress (including Sen. Joseph Lieberman of Connecticut), investor advocates, and others, the report explores how the system of controls was eroded by conflicts of interest, as well as by congressional intervention that blocked efforts at protecting investors. In the late 1990s, Enron was just one of the more than 400 corporations forced to dramatically restate their value because of accounting lapses, failures or fraud. Find many great new & used options and get the best deals for PBS Frontline - Bigger Than Enron (DVD, 2009) mint disc AUTHENTIC REGION 1 at the best online prices at … var useSSL = 'https:' == document.location.protocol; ... Watch "Frontline: The Warning" Watch "Part 2/2: Bill Murphy of GATA reveals whistle blower Andrew MaGuire to CFTC 3-25-2010" Keep your eyes out on WikiLeaks -- they will be releasing some internal bank documents soon. + Boosting the Bubble? With the demise of Andersen, the American business landscape was forever altered. But ultimately, as this report shows, it was not just Congress but the big accounting firms themselves that failed to protect investors, and what happened at Arthur Andersen illustrates the wider story of how the oversight system broke down. Audience Reviews for Frontline - Bigger Than Enron. ISIS' growing foothold in Afghanistan is captured on film. Your Name: _ Frontline video "Bigger Than Enron." In the late 1990s, Enron was just one of the more than 400 corporations forced to dramatically restate their value because of accounting lapses, failures or fraud. The meteoric rise and stunning collapse of Enron caused many to question why the watchdog system that was supposed to … The word is out. Included in the report were details of how deregulatory fervor in Congress enabled these sheisters to invent profits out of thin air. What did the NFL know, and when did they know it? PBS Frontline Bigger than Enron by dacia stefanski. Bankers, lawyers and accountants all colluded in enabling these frauds, and many were inadequately punished. googletag.pubads().enableSingleRequest(); "The collapse of Enron caused many to question the watchdog system designed to protect investors. Enron cost the American people $200 billion, due to deceptive financial reporting. But Enron and its auditor, Arthur Andersen, are the tip of the iceberg. HEDRICK SMITH, FRONTLINE Correspondent: [voice-over] Everything about Enron seemed larger than life, from its glittering Houston headquarters reaching to the skies to its spectacular downfall. 2002, Economics - 60 min 24 Comments. I think the Enron scandal is symptomatic of something much broader than Enron. With a pay package that included more than seven million shares and options, Dunlap stood to make more than $200 million personally if he could keep Sunbeam's stock price flying. Why the largest business scandal in American history is just the tip of the iceberg--and why investors should care. Bankers, lawyers and accountants all colluded in enabling these frauds, and many were inadequately punished. PBS Frontline aired this expose of the Enron/Anderson scandal last night. Summary "The collapse of Enron caused many to question the watchdog system designed to protect investors. googletag.cmd.push(function() { And, well placed blame on our elected political representatives was also presented. Discussion Questions A … But something else was altered as well: the scandal surrounding Enron and Andersen, together with the wave of other major accounting scandals that have come to light in recent months, has dealt America's markets an unsettling psychological blow. Harvey Pitt, Arthur Levitt, Paul Volcker, Joseph Berardino, and others, on lessons learned from Enron and Andersen. In the late 1990s, Sunbeam CEO Al Dunlap used simple accounting tricks to paint a picture of a turnaround in earnings that didn't exist. "The trail leads to Washington," Smith reports, "where Congress weakened the protections and tied the hands of regulators, making it easier for aggressive companies like Enron to push the envelope." The story of Enron was more than the shattering of one American success story. But Enron and Arthur Andersen turn out to be merely the tip of the iceberg. After a trial that dragged on for six weeks, the Arthur Andersen accounting firm was convicted of obstruction of justice in the Enron debacle. Houston Chronicle Ann Hodges. General Business 101 (GENBUS 101) Academic year. Is This Supreme Court Case the Next ‘Citizens United’? FRONTLINE WATCH SCHEDULE TOPICS ... Paul Volcker, Joseph Berardino, and others, on lessons learned from Enron and Andersen. NFL Commissioner Highlights Safety Record In Letter To Fans, How One Client’s Concussion Shook the Real “Jerry Maguire”. 'https:' : 'http:') + Netanyahu, Rabin and the Assassination That Shook History | Netanyahu at War | FRONTLINE by FRONTLINE PBS | Official. An excellent case was made for reform of the accounting profession. Now, FRONTLINE examines an oversight system gone soft"--Container The conviction of Arthur Andersen for document shredding gives the Bush Administration an early, if shaky, legal success in its investigation of the Enron scandal. Boise State University. })(); Bigger THAN Enron - Discussion Questions - Worksheet. WRITTEN AND PRODUCED BY Hedrick Smith & Marc Shaffer. Keep checking Rotten Tomatoes for updates! Here's a look at three major battles of the decade. FRONTLINE PROGRAM: Bigger Than Enron. “The Most Risky … Job Ever.” Reporting on “ISIS in Afghanistan”. A synopsis of FRONTLINE's "Bigger Than Enron." Professor Cheryl Larabee. WGBH educational foundation. + Questions Investors Need to Ask An excerpt from the new book How Companies Lie: Why Enron Is Just the Tip of the Iceberg. "Bigger Than Enron" examines three specific cases in which Andersen auditors allowed misleading or fraudulent accounting practices to cause enormous investor losses -- at Sunbeam, Waste Management, and finally Enron. press reaction + credits + privacy policy + FRONTLINE + wgbh + pbsi, web site copyright 1995-2013 WGBH educational foundation, League of Denial: The NFL's Concussion Crisis. Notes on investigating the Andersen story, by FRONTLINE producer Marc Shaffer. In the spring of 1998, when Dunlap and his team ran out of tricks, Sunbeam corrected its books, declared bankruptcy, and the stock price plunged from $53 at its peak to just pennies today. But Enron and Arthur Andersen are the tip of the iceberg. With a commentary by correspondent Hedrick Smith. Andersen and Waste Management paid a steep price in stockholder settlements, but no one went to jail. 2018/2019 questions for investors + interviews + discussion + correspondent's chat + tapes + transcripts Bigger than Enron [videorecording] / a FRONTLINE coproduction with Hedrick Smith Productions ; ... Summary: Examines the ... Frontline (Television program) Note: Originally broadcast as a segment of the television program Frontline. DIRECTED BY Marc Shaffer ISIS is in Afghanistan, But Who Are They Really? Lynn Turner, a former Wall Street partner at Coopers & Lybrand and former chief accountant at the SEC, says, "Without reform, there's no question we'll see more damage inflicted -- we will see more Enrons. This page, from FRONTLINE's January 2002 report "Dot Con," examines the role Wall Street analysts … I rece... View more. Bigger Than Enron. introduction + lessons + politics of enron + accounting wars + watchdogs FRONTLINE and ProPublica investigate assisted living in America. var gads = document.createElement('script'); Critics, however, still say that his plans are too weak, and question whether he is genuinely prepared to cross his former clients in the accounting industry, which he represented as a top Wall Street lawyer throughout the 1990s. View GENBUS - Bigger than Enron from GENBUS 101 at Boise State University. The word is out. If we can't trust the auditors, investors wonder, whom can we trust? ", home + introduction + lessons + politics of enron + accounting wars + watchdogs In Fight Against ISIS, a Lose-Lose Scenario Poses Challenge for West. In the late 1990s, Enron was just one of the more than 400 corporations forced to dramatically restate their value because of accounting lapses, failures, or fraud. David Brooks of The Weekly Standard and Robert Kuttner of The American Prospect debate the political fallout, or lack of it. Together with Enron -- the largest corporate bankruptcy in U.S. history -- these failures have cost investors an estimated $200 billion. The House and Senate held hearings and introduced legislation to reform the accounting industry. This is a DVD re-release of a 2002 PBS Frontline VHS release documenting the deeper nature of corporate fraud and corruption as it stood then and that extends beyond Enron and its auditors to many other firms. var googletag = googletag || {}; Also profiled was the accounting firm Arthur Andersen Consulting. A synopsis of FRONTLINE's "Bigger Than Enron." The SEC fined Andersen $7 million in June 2001, and Andersen promised to shore up its internal oversight -- but by then they were already deeply enmeshed in new trouble at Enron. 55:55. In the late 1990s, Enron was just one of the more than 400 corporations forced to dramatically restate their value because of accounting lapses, failures or fraud. Everything about Enron seemed to be larger than life. Bigger than Enron. FRONTLINE investigates the rise of deadly drug-resistant bacteria. In an ominous harbinger of the Enron scandal, the SEC discovered that Andersen accounting documents had been destroyed. But what seemed to be lacking was in … Pavadinimas: PBS Frontline Bigger than Enron Video Language: English Duration: 55:55 The meteoric rise and stunning collapse of Enron caused many to question why the watchdog system that was supposed to protect investors failed to sound any alarms about the company's dubious financial underpinnings. During the 90s, the Big Five flexed its political muscle as never before. ... Funding for FRONTLINE is provided through the support of PBS … But Enron and Arthur Andersen are the tip of the iceberg. For PBS since 1989, Smith has created 26 prime-time specials and mini-series on such hotly debated and much discussed topics as terrorism, Wall Street, Soviet perestroika, Wal-Mart, Enron, tax evasion, educational reform, health care and Washington's power game. var node = document.getElementsByTagName('script')[0]; Reforms on the Table An overview of post-Enron reforms being proposed by the SEC, Congress, the New York Stock Exchange, and other bodies. Unless major reforms are undertaken to restore investor confidence, observers say, it could spell trouble for the U.S. markets. On June 15, a Houston jury convicted Arthur Andersen -- the 89-year-old accounting firm once known as the gold standard of integrity in auditing -- for obstruction of justice in the government's investigation of Enron, Andersen's biggest client. A commentary by FRONTLINE correspondent Hedrick Smith. googletag.enableServices(); FRONTLINE reports from Iraq on the miscalculations and mistakes behind the brutal rise of ISIS. gads.async = true; What went wrong? googletag.defineSlot('/6735/n6735.pbs/culture_race_AmericanFamily', [728, 90], 'googlead').addService(googletag.pubads()); Bigger Than Enron The Frontline program profiled corporations that undercut financial watchdogs. What went wrong? [an error occurred while processing this directive] University. In the case of Waste Management -- which in 1998 issued the largest corporate restatement before Enron -- the company had exaggerated its earnings by $1.7 billion. Bigger Than Enron. Together with Enron -- the largest corporate bankruptcy in U.S. history -- these failures have cost investors an estimated $200 billion. Houston Chronicle Ann Hodges FRONTLINE WATCH SCHEDULE TOPICS... Paul Volcker, Joseph Berardino, many! 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