Now, he accepts full accountability for the damage due to flaws in his character that enabled him to justify questionable interpretations of accounting laws. He says that the media described Enron as “a group of black guys sitting in a dimly lit room attempting to think of ways to rip people off. It wasn’t that manner. They were not hidden when we did these creative deals.
We had celebrations to celebrate them. I like to think that I 'dn’t have done what I did if it had dawned on me that my activities were potentially criminal. It only never did.” Fastow considers that many unethical business behaviours occur in a grey area, where we rationalize deceptive behaviour because we followed the rules. Although questionable behavior is still seen by him in company, tax avoidance, and politics, he’s confident that progress is possible — less through laws than cultural change. After all, business schools didn't even offer complete courses on ethics when Fastow did his MBA.
Publication Date: 04/26/2016
This is just an excerpt. This case is about Finance
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