The Criminal Legacy of Alan Greenspan


Another look at Enron

Foundation for Economic Education
by William L. Anderson


The response from journalists and politicians across the country was unanimous: Enron was a fraudulent entity and a number of executives and employees got what they deserved by going to prison. However, I have been among the critics not only of the verdicts, but also of the government’s conduct throughout this sorry affair. Thus I am part of a larger public effort to tell people there is another side to the story. Before going further, however, let me say that Enron’s demise should not have been a surprise, as it was a product of the Federal Reserve’s late 1990s boom. Alan Greenspan’s easy-credit regime permitted Enron and other firms to boost their stock prices to levels well above where the fundamentals said they should have been...

Informant: Thomas L. Knapp

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