Mr. Levitt, what's the significance of the Enron scandal and collapse for the markets as a whole? Is this just a group of bad guys who broke the law maybe in one company? Or is this symptomatic of something larger?
I think the Enron scandal is symptomatic of something much broader than Enron. I think it's symptomatic of a breakdown of the ethical values of business over a period of perhaps 20 years, a gradual erosion of business ethics that brought us to an Enron, but might very well bring us to a whole host of Enrons as we move down the road.
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