There was actual fraud in the case of Enron from what I have seen. These guys manipulated the system to drive up energy costs. I am sure that there were many honest employees that had nothing to do with the deception, but this was not just ignorance at work.
Dave -----Original Message----- From: Jed Rothwell <jedrothw...@gmail.com> To: vortex-l <vortex-l@eskimo.com> Sent: Wed, Jul 25, 2012 10:04 am Subject: Re: [Vo]:"Too Big to Fail" movie portrays institutional disaster Alain Sepeda <alain.sep...@gmail.com> wrote: about Enron, read http://www.princeton.edu/~rbenabou/papers/Patterns%20of%20Denial%204l%20fin.pdf it was sincere self delusion leading to perceived as rational "honest" fraud, and not simple scam. I agree it was self-delusion. I think that is more common that people realize. Con-men often con themselves. That is a really good paper. This is "Appendix A: Patterns of Denial." Appendix A to what? Here is the main index of papers: http://www.princeton.edu/~rbenabou/papers.html - Jed
