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The Smartest Guys in the Room: The Amazing Rise and Scandalous Fall of Enron


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Like its subject, The Smartest Guys in the Room is ambitious, grand in scope, and ruthless in its dealings. Unlike Enron, the Texas-based energy giant that has come to represent the post-millennium collapse of 1990s go-go corporate culture, it's also ultimately successful. Penned by Fortune scribes Bethany McLean and Peter Elkind, the 400-page-plus chronicle of the scandal digs deep inside the numbers while, wisely, maintaining focus on the "smart guys" deep-frying the books. The likes of paternal but disengaged CEO Ken Lay (dubbed "Kenny Boy" by George W. Bush, one of many prominent public figures with whom he rubbed shoulders), cutthroat man-behind-the-curtain Jeff Skilling, and ethically blind numbers whiz Andy Fastow vividly come to life as they make a mockery of conventional accounting practices and grow increasingly arrogant and bind to their collective hubris. They're not a likable lot, and the writers find it difficult to suppress their astonishment and revulsion with the crew who rapidly went from golden boys and girls of the financial world to pariahs when the bill finally came due. The authors' unrepressed sarcasms are more than often unnecessarily given the scope of the outrage. Enron's leading lights were or a time celebrated for their ability to concoct nearly unfathomable business schemes to hide mounting shortfalls and keeping track on their machinations can be a chore, but, by sticking hard to the story behind the fall, McLean and Elkind have reported and written the definitive account of the Enron debacle. --Steven Stolder

Product Reviews


(5 stars) - Great service
The book was received in great condition. The delivery time was faster than expected. I will be using this service for future purchases.



(5 stars) - Very Thorough
Like many others, I have been fascinated by the whole Enron story, from what happened to who let it happen and why. As far as I'm concerned, this is the only Enron book I'll ever need. Every aspect of Enron, from its origins to its demise, is explained in great detail. I recommend watching the documentary based on the book as a supplement for this reading. The creative accounting used by the company to mask its debt was pretty complicated. And although I believe the authors did a pretty good job of breaking it down for the average person, I seem to remember (maybe incorrectly) the movie breaking it down even further. All in all, extremely fascinating stuff.



(4 stars) - Interesting Book..
This was a very interesting and fascinating book. It describes quite well and in detail the fall of Enron. Although there were so many characters, it was well-organized and easy to follow. I would recommend this book if you are interested in the fall of Enron or corporate greed. It's rather interesting. However, I would have like more on where the key players ended up as it didn't seem to get into that great of detail at the end.



(5 stars) - precursor of our present economic crisis
This book provides a detailed and insightful examination of what went wrong with Enron. Obviously, we did not learn from the excesses of that debacle, and are therefore doomed to repeat it in our present economic mess. We still do not seem to be learning much and we are doing even less. This attitude will result in the eventual collapse of our economic system and our poilitical system as well.



(4 stars) - A very detailed story ...
This is a good book to read after a postgraduate course in Accounting. We all know the story, you can watch the documentary about it, but to know all the details simply worths the time, mainly because you start to learn about how the energy trading business works, how is the life of most high ranked executives and most importantly, how all this scam was executed. And for sure this is a book with several lessons, with executives with a very mediocre life (money is not everything), with a market giving the blind eye to the situation and, in my opinion, a case that shows how vulnerable is the pension system in the United States. Seems that the smartest guy in the room was Lou Pai by the way. Finally, I would not recommend this book to people with depression issues -- life can be better than this.



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