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On the surface, the motives and attitudes behind decisions and events leading to Enrons eventual downfall appear simple enough: individual and collective greed born in an atmosphere of market euphoria and corporate arrogance. Hardly anyonethe company, its employees, analysts or individual investorswanted to believe the company was too good to be true. So, for a while, hardly anyone did. Many kept on buying the stock, the corporate mantra and the dream. In the meantime, the company made many high risk deals, some of which were outside the companys typical asset risk control process. Many went sour in the early months of 2001 as Enrons stock price and debt rating imploded because of loss of investor and creditor trust.

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