1
In late 2001, Fortune Magazine’s Most Innovative Company suffered the largest chapter
11 bankruptcy to that point in history (Baker). The Enron Corporation imploded upon itself,
collapsing the house of cards they had used to build the company. As 2002 rolled around, it came
out that Enron had been using deceptive accounting methods to cover up of the massive debts
that they managed to keep off the company’s books. Now as a result of this collapse, Enron stock
prices plunged from over $90 a share, to mere pennies. Costing investors billions, employees
their jobs, and retirees their pensions (Saihan). Clearly Enron was socially irresponsible,
however in 2008 an arguably worse scandal arose, the non-executive chairman of NASDAQ was
arrested and charged with securities fraud. Bernie Madoff was accused of orchestrating the
largest Ponzi scheme in United States history. He admitted that the asset management unit of his
firm, Bernard L. Madoff, was “one big lie”. The Madoff scandal cost thousands of investors
