“The after-the-fact rationalizations were strikingly similar to the mind-set that produced the Enron disaster in the first place. The arguments were narrow and rules-based, legalistic in the hairsplitting sense of the word. Some were even arguably true—in the way that… — Bethany McLean Copy Share Image
“People also felt that a great crime had been committed, yet there was not going to be a great punishment.” — Bethany McLean Copy Share Image
In capital we trust. Capital is our savior, our holy grail, our fountain of youth, or at least health, for banks. — Bethany McLean Copy Share Image
“unmistakable message to boardrooms across the country: You can’t lie to shareholders. You can’t put yourself in front of your employees’ interests. No matter… — Bethany McLean Copy Share Image
When Warren Buffett invests in a company, he is conferring upon that company something very unique: his credibility. — Bethany McLean Copy Share Image
“But “if it’s destroyed in the course of the normal policy and litigation is filed the next day, that’s great, you know, because we’ve… — Bethany McLean Copy Share Image
What's good for the financial industry probably isn't good for you. — Bethany McLean Copy Share Image
I'm not a big believer in the power of more regulation to fix things. I think it can almost be more dangerous because it… — Bethany McLean Copy Share Image
The worst story I ever wrote was after the conviction of Jeff Skilling and Ken Lay. My co-author and I wrote a piece for… — Bethany McLean Copy Share Image
Home ownership was the fig leaf for the rise in subprime lending. But that was really about cash-out refinancings, not buying homes. — Bethany McLean Copy Share Image
Proponents of privatization argued that cities and states needed private capital to fund all the upgrades that our decaying infrastructure so desperately needed. — Bethany McLean Copy Share Image
Capital isn't this pile of money sitting somewhere; it's an accounting construct. — Bethany McLean Copy Share Image
... skepticism about past returns is crucial. The truth is, much as you may wish you could know which funds will be hot, you… — Bethany McLean Copy Share Image
