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The Rise of "Legal Fraud" | Bethany McLean
Forward Guidance
How Did Things Get So Bad That You Had Masses of Fraud?
How did things get so bad a that you had the mass of fraud? I think it's a great question, because i think it continues to day. That's te monomaniacal focus on the part of the investment community on quarterly earnings per share. So enron was a company that had mastered how to play that game. Each quarter they would meet or beet anlis earning's expectations like clockwork. But because they played this game so well, people didn't ask questions until it was too late.
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