Congressional Digest

Congressional Digest June 2002 No. 6 Vol. 81
Foreword

Enron Fallout

Congress Moves to Protect American Workers

Foreword

At its peak in the year 2000, Enron Corporation, the huge, Houston-based energy trader, was the seventh largest company in the United States, worth $70 billion. A year later, it became the biggest company in U.S. history to go bankrupt, its stock having plunged from $80 to less than $1 a share. Enron’s collapse left thousands of employees out of work and thousands of investors — including most of the company’s employees — with worthless stock. Many lost virtually all the savings in their retirement plans. The Enron scandal, as it became known, highlighted the rapid growth and the minimal…

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