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Adm. Sci. 2013, 3(2), 6-8; doi:10.3390/admsci3020006

New Book Received *
Resisting Corporate Corruption: Cases in Practical Ethics From Enron Through The Financial Crisis, 2nd Edition. By Stephen V. Arbogast, Wiley-Scrivener, 2013; 552 Pages. Price US $75.00, ISBN 978-1-118-20855-7
Shu-Kun Lin
MDPI AG, Kandererstrasse 25, CH-4057 Basel, Switzerland
Received: 14 May 2013 / Accepted: 15 May 2013 / Published: 22 May 2013

The following paragraphs are reproduced from the website of the publisher [1].

Taking a unique approach to business ethics unlike the typical focus on conceptual/legal frameworks, this book features 25 case studies that cover a full range of business practices, controls, and ethics issues. The new edition is fully updated with new case studies from the recent financial crisis, comparing it with Enron's crossing of various ethical lines. Interpretive essays explore financial control systems and lessons learned from specific case studies and circumstances. Readers will find a practical toolkit they can use to identify ethics issues and tackle problems effectively within corporations.

Table of Contents

  • Acknowledgements vii

  • Preface ix

  • Note to Faculty:How to Use this Book xvii

  • Case Study 1 Enron Oil Trading (A): Untimely Problems from Valhalla (A) 5

  • Essay 1 How to do an Ethics Case Study: Key Steps in Tactical Planning 21

  • Case Study 2 Enron Oil Trading (B): The Future of Enron InternalAudit 37

  • Case Study 3 Enron Oil Trading (C): An Opening for EnronAudit? 49

  • Case Study 4 Enter Mark-to-Market (A): ExitAccounting Integrity? 53

  • Case Study 5 Enter Mark-to-Market (B): Accounting & theAggressive Client 71

  • Essay 2 NecessaryAmmunition— The Economic Rationale for Financial Control 81

  • Case Study 6 Enter Mark-to-Market (C): The Disease Spreads to Enron Clean Fuels 107

  • Case Study 7 Adjusting the Forward Curve in the Back Room (A) 115

  • Case Study 8 Enron’s SPE’s:AVehicle too Far? 127

  • Case Study 9 Court Date Coming in California 149

  • Case Study 10 Jeff Skilling and LJM (A): The “Shoot the Moon” Meeting 169

  • Case Study 11 New Counsel forAndy Fastow (A) 189

  • Case Study 12 Nowhere to Go with “The Probability of Ruin” 205

  • Case Study 13 Lay Back … and Say What? 227

  • Case Study 14 “Whistleblowing” before implodingin Accounting Scandals 249

  • Essay 3 Legacy and Lessons of Enron: Forerunner of the Financial Crisis? 271

  • Essay 4 Resisting Corporate Corruption: Tactical Lessons from the Enron Cases 279

  • Essay 5 Underappreciated Origins of the Financial Crisis:APersonal Memoir 289

  • Case Study 1 Should Countrywide Join The Subprime Mortgage “Race to the Bottom?” 311

  • Case Study 2 Seeking a Sustainable Business Model at Goldman Sachs 337

  • Case Study 3 Juggling Public Policy, Politics and Profits at Fannie Mae (A) 357

  • Case Study 4 Sub-Prime Heading South at Bear StearnsAsset Management 383

  • Case Study 5 Ratings Integrity vs. Revenues at Moody’s Investors Service 409

  • Case Study 6 Juggling Public Policy, Politics and Profits at Fannie Mae (B) 437

  • Case Study 7 Admission of Material Omission? Citibank’s SIVs and Sub-Prime Exposure 461

  • Case Study 8 Facing Reputational Risk on Goldman’sABACUS 2007-AC1 487

  • Case Study 9 Time to “Drop the Hammer”on AIG’s Controls? 505

  • Case Study 10 Write to Rubin? – Pressure on Underwriting Standards at Citigroup 533

  • Case Study 11 Wean Lehman Brothers off “Repo 105”? 559

  • Case Study 12 Time to Report Moody’s to the SEC? 575

  • Case Study 13 Take CitiMortgage to the Feds? 595

  • Essay 6 Chronic Crises, Systematic Breakdowns, Emerging Resistance and the Implications for Teaching Business Ethics 613

  • A Note on Sources 629

  • Index

* Editor’s Note: The brief summary and the contents of the books are reported as provided by the author or the publishers. Authors and publishers are encouraged to send review copies of their recent books of potential interest to readers of Administrative Sciences to the Publisher (Dr. Shu-Kun Lin, Molecular Diversity Preservation International (MDPI), Kandererstrasse 25, CH - 4057 Basel, Switzerland. Tel. +41 61 683 77 34; Fax: +41 61 302 89 18, E-mail: Some books will be offered to the scholarly community for the purpose of preparing full-length reviews.


  1. The website for this book is:
Adm. Sci. EISSN 2076-3387 Published by MDPI AG, Basel, Switzerland RSS E-Mail Table of Contents Alert
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