Enron: The New Face State-Corporate Crime on the Global Arena

Raymond J. Michalowski, Northern Arizona University

ABSTRACT
The collapse of Enron and the indictment of its auditor, Arthur Anderson, constitute a state-corporate crime of global proportions. news reports, however, have typically overlooked the global dimensions of the Enron scandal, choosing instead to focus on the apparent malfeasance of a small number of Enron executive in Texas. In contrast, this paper explores three elements of globalization that are linked to Enron's behavior as a state-corporate criminal. Specifically, it analyzes: (1) how the ease and growth of using offshore financial instruments facilitated Enron's ability to hide its ever-widening flow of red ink, (2) how Enron was able to use its econimc strength to obtain political favors in overseas operations, particularly its highly disputed Dahbol power plant near Bombay, India, and (3) how the intersection of Enron and U.S. government interests to increase the penetration of U.S. companies into foreign markets facilitated Enron's ability to extend its corporate criminality beyond U.S. border.

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Updated 05/20/2006