Strome Business Minute With Dr. Jeff Tanner

In honor of the 18th anniversary of Enron’s bankruptcy, let’s take a look at the 6 largest bankruptcies in American history. Enron’s was notable for its impact on Pacific Gas & Electric which also filed for bankruptcy due to Enron’s manipulation of energy prices, the same PG&E which filed for bankruptcy again earlier this year due to the catastrophic California wildfires in 2017 and 2018. Like Enron, WorldCom, one of the biggest US telecom providers, was a house of cards built on illegal accounting manipulations, and like Enron, saw its CEO go to prison. GM, Washington Mutual, CIT and Lehman Brothers round out the group, all of which went down in the 2008 recession. GM and CIT both recovered while the rest are all memories.