|Front Page | In-depth | Business | The Enron affair|
| October 2001: Enron crashes|
Stock market panic as a giant falls
22 - 24 Oct:
When trading reopened after the weekend, Enron made another bombshell annoucement. Wall Street's watchdog, the Securities and Exchange Commission had opened inquiries into a potential conflict of interest between the company, its directors and the special partnerships.
With shares already down to $26, the announcement wiped another 20% of the price and sparked investor flight, dramatically decreasing Enron's chances of survival.
Kenneth Lay vainly attempted to bolster investor confidence by sacking chief financial officer Andrew Fastow - the man who had set up the partnerships hiding Enron's debts.
But by the end of the week, Enron shares were changing hands for just $15.
With the empire collapsing, the full details of the maze of financial partnerships and contracts were only just being revealed.
Click on the red dots on the graph for more detail.
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