Who Says Crime Does Not Pay? Enrons Andy Fastow Speaks at a Fraud Examiners Conference

No MLA style required. No sources required. Opinion based. Extremely short responses is all that is required.

Below is an interesting article about Andrew Fastow, who spoke at the Fraud Examiner Association of Certified Fraud Examiner’s conference in the summer of 2013. Note that Fastow suggests that, “I did not embezzle, avoid taxes or do any sort of insider trading. What I am guilty of is creating financial structures that made Enron look better to the public than it actually was. Accounting rules can be vague and we at Enron viewed that vagueness as an opportunity.” Wow!

  1. Can you describe Andy Fastow’s ethics?
  2. Could you adopt them for your own?
  3. Fastow made an interesting response to the question, “Did you know it was wrong”? “Absolutely. I knew I was doing something wrong, but at the time I didn’t know it was illegal.” How can you justify that statement?
  4. He also asked, “Once you start doing these types of transactions, when do you stop? I just didn’t stop.” How difficult do you think it would be to stop these kinds of actions in the business world when you are brought in to do this job, are making millions of dollars while performing the job, and you seemingly have everyone’s approval and admiration in the process of doing your job?
  5. What did Andy Fastow read in prison, and what would Vice Admiral Stockdale have to say about it?

Post your thoughts & comments to the above questions after reading the article below.


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