Corporate Autopsy: Business Collapses Explained

Enron: The Company That Fooled Everyone

February 6, 2026 1985-2001 Houston, Texas Kenneth Lay, Jeffrey Skilling, Andrew Fastow, Sherron Watkins

What You'll Discover

  • What happened to Enron and why $70 billion vanished in weeks
  • How mark-to-market accounting created billions in fake profits
  • Why 16 of 17 Wall Street analysts missed the fraud
  • The Sherron Watkins whistleblower memo that went ignored
  • Where Kenneth Lay and Jeffrey Skilling ended up

In 2001, Enron was the 7th largest company in America. Fortune named it “Most Innovative” six years running. Eleven months later, it was worth nothing and 20,000 employees lost everything.

The Detail That Changes Everything

16 of 17 Wall Street analysts rated Enron a buy while the company was collapsing

Historical Context

This story spans 1985-2001 and is centered in Houston, Texas. Understanding the broader historical context is essential to grasping why events unfolded as they did.

Key Figures

The central figures in this story include Kenneth Lay, Jeffrey Skilling, Andrew Fastow, and Sherron Watkins. Each played a distinct role in the events documented in this episode.

What This Documentary Covers

  • What happened to Enron and why $70 billion vanished in weeks
  • How mark-to-market accounting created billions in fake profits
  • Why 16 of 17 Wall Street analysts missed the fraud
  • The Sherron Watkins whistleblower memo that went ignored
  • Where Kenneth Lay and Jeffrey Skilling ended up

Themes Explored

This episode examines interconnected themes including accounting fraud, corporate governance, whistleblower, energy trading, regulatory failure. These themes recur across multiple episodes in our documentary collection, revealing patterns that connect seemingly unrelated stories.

Watch the Full Documentary

This companion article provides context and background for the full documentary. For the complete story with narration, original music, and archival imagery, watch the episode above or on YouTube.

Arthur's Verdict

The fraud was hiding in plain sight -- sixteen of seventeen Wall Street analysts missed it.

Frequently Asked Questions

Enron: The Company That Fooled Everyone. 16 of 17 Wall Street analysts rated Enron a buy while the company was collapsing
Enron scandal explained: $70 billion vanished in 36 days. FULL documentary.
Key figures include Kenneth Lay, Jeffrey Skilling, Andrew Fastow. Watch the full documentary for the complete story.
What happened to Enron and why $70 billion vanished in weeks
How mark-to-market accounting created billions in fake profits

Sources & Further Reading

As an Amazon Associate, Arthur Lee's Adventures earns from qualifying purchases at no extra cost to you.

Arthur's Pick

Free with Audible trial. 14 hours of jaw-dropping detail on how Enron fooled everyone.

The definitive Enron account. If you only read one Enron book, make it this one.

Co-written with whistleblower Sherron Watkins. The insider view.

A narrative masterpiece. Reads like a novel about the biggest fraud in history.

Join the Discussion

Enron's board approved every off-books partnership that hid billions in debt. Were they complicit criminals, or genuinely fooled by Skilling and Fastow? I've gone back and forth on this for years. Drop your verdict below.

Share Your Take on YouTube