Enron And The Watergate Of The Vietnam War

1460 Words Dec 18th, 2015 6 Pages
In October of 2001, Enron announced a third-quarter loss of $618 million. The SEC and the U.S. Department of Justice both launched investigations into the sudden fall of the company and found that Enron had overstated their earnings by an estimated $586 million since 1997. Top executives in the company sold their majority shares days before the company’s collapse leaving lower level employees with worthless stocks in their pensions causing them to lose the majority of their life savings (CNN). As of today, charges have been brought against at least sixteen employees and executives in connection with Enron on counts of wire fraud, securities fraud, insider trading and money laundering among others. Flashback to June 17, 1972, and the Watergate burglars who initiated one of the largest and most talked about scandals in American history. Richard Nixon served as president from January of 1969 to August of 1974 and was Commander in Chief during the Vietnam War, one of America’s darkest hours. In June of 1971, The New York Times began running a series called “The Pentagon Papers” which was an expose of the Defense Department’s secret history of the Vietnam War (watergateinfo). The White House “plumbers” unit was then enacted, in September of the same year, to stop leaks within the administration; starting with breaking in to a psychiatrist’s office to obtain files on Daniel Ellsberg, the former defense analyst who leaked the “Pentagon Papers” then later installing bugging…

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