Enron: The Loophole to Bankruptcy | Multi Level Monday
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The Enron Scam
Arthur Anderson LOP was one of the five largest accounting firms in the United States at the time. Despite Enron's poor accounting practices, Arthur Anderson offered its stamp of approval on corporate reports for years. Top executives were paid bonuses totaling $55 billion while 20,000 employees lost their jobs and medical insurance. The average severance pay was about $4,500. To date, about 90 million has been forfeited to help compensate victims.
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