Wheel, Deal, and Steal: Deceptive Accounting, Deceitful CEOs, and Ineffective Reforms

Chapter 2. Scandals and More Scandals

The purpose of this chapter is to explain what has happened in the most publicized corporate scandals and to clarify the differences among the various situations in different companies. In Chapter 3 we explore what’s common among the scandals. Because there’s much that is common, we turn in Chapter 4 to the questions: Are the scandals only a matter of a few bad apples; if not, what needs to be fixed; and what is the significance of the scandals for the economy as a whole?

The Scandals in a Nutshell

We’ve heard the news reports but they’re still difficult to believe. Below are a baker’s dozen of the major corporate scandals, briefly summarized. They’re presented in roughly chronological order, with a little bit ...