Summary of Conspiracy of Fools

A True Story

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Conspiracy of Fools
How lies and greed brought Enron to its knees (the truth is even worse than you expected).

Rating

9 Overall

9 Importance

8 Innovation

9 Style

 

Review

You might think you know all about the Enron debacle, but this page-turner sheds new light on the scandal of the century. From Jeff Skilling's drinking and dithering to Andy Fastow's bullying and badgering, this report plumbs the depths of Enron's skullduggery. Accomplished journalist Kurt Eichenwald writes in a novelistic style, using dialogue, scenes and action to move his plot along. The result is a very complete and compelling account of Enron's collapse. At times, Eichenwald oversteps, such as when he reports what Skilling was thinking during a night of heavy drinking. While this is a lengthy tome, Eichenwald rewards those readers who keep a stiff upper lip with a fast-moving, in-depth account. getAbstract recommends this book to managers and investors who want a reminder of what happens when greed trumps common sense.

In this summary, you will learn

  • Why Enron imploded
  • How Andy Fastow engineered questionable partnerships
  • How the international division went wrong
  • How it all ended
 

Summary

Empty Promises
In 2001, Enron exploded into the public eye as Exhibit A for corporate greed, compromised accounting and bad decisions. But the debacle took years to create. Even in the 1980s, in the earliest days of Ken Lay (the eventual CEO), Houston-based Enron was prone to missteps. ...
Get the key points from this book in less than 10 minutes.

About the Author

Kurt Eichenwald wrote this book while working as a reporter at The New York Times. He also wrote The Informant and Serpent on the Rock.


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