ABSTRACT
The poster child for enablers, though, has to be Arthur Andersen. Andersen "audited" the financial statements of Enron, WorldCom, Qwest, and others involved in the accounting scandals. The pendulum of public opinion swung against the tide of greed and many of the former symbols of the new economy and wealth became scapegoats. Perhaps one of the most striking examples of an enabler to financial fraud was the gross negligence of Enron's board of directors, a well-connected and highly educated group of people charged with the responsibility of making certain that the company was run in a prudent and lawful fashion. GE's celebrated leader, Jack Welch, became the first scapegoat to capture public attention. The only "little guys" who suffered were holders of Martha Stewart Living shares, who saw their value plunge as the media took hold of the Stewart story and elevated it into a full-fledged phenomenon.
