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Essay / Research Paper Abstract
A 6 page research paper on the PBS Frontline broadcast a documentary entitled "Bigger Than Enron" and Robert Reich's The Work of Nations. The PBS program looked into the Enron scandal and its implications. This example of broadcast journalism argues that corporations are mammoth institutions that cannot be trusted to report their finances accurately without strict government regulation. Robert Reich, a professor at Harvard's Kennedy School of Government, proposes that corporations are the defining institution for the future. He describes corporations as the supranational organizations, which define the nature of the global marketplace. The writer contrasts and compares the argument presented. Bibliography lists 4 sources.
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6 pages (~225 words per page)
File: D0_khrrvpbs.rtf
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Unformatted sample text from the term paper:
argues that corporations are mammoth institutions that cannot be trusted to report their finances accurately without strict government regulation. Robert Reich, a professor at Harvards Kennedy School of Government, on
the other hand, in his text The Work of Nations proposes that corporations are the defining institution for the future. He describes corporations as the supranational organizations, which
define the nature of the global marketplace. Bigger Than Enron The PBS Frontline piece on Enron begins by introducing the topic and presenting its thesis, which is that Enron/Arthur
Andersen scandal is merely the "tip of the iceberg," as in the 1990s, more than 700 US corporations were compelled to correct misleading financial statements that indicate "accounting failures, lapses,
or outright fraud" (Smith, 2002). This investigations proposes that the Enron scandal is indicative of a much broader problem, one that is caused by a lack of government regulation over
corporations due to their political influence. Smith reports that the "trail leads to Washington where Congress weakened the protections and tied the hands of regulators, making it easier for aggressive
companies like Enron to push the envelope" (2002). Indicative of this atmosphere of deception, Smith points to how the Financial Accounting Standards Board (FASB) proposed closing an accounting loophole
in 1993, which allowed corporations to avoid recording stock options on their balance sheets. According to a Merrill Lynch study, if corporations were compelled to list such stock options, it
would cause profits among the leading high-tech corporations to drop, on average, 60 percent (Smith, 2002). Consequently, a huge lobbying effort was organized that resulted in Congress defeating the
proposed legislation by one vote. Jim Leisenring, the vice chairman of the FASB, points out that the debate over this bill was not about accounting, but rather shifted into political
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