Briefly describe “Mark to Market” accounting and its implications.

Briefly describe “Mark to Market” accounting and its implications.
From what you have learned, did Enron do anything that was illegal, at the time?
Andrew Fastow said, “A significant number of senior management participated in … activity to misrepresent our company. And we all benefitted financially from this at the expense of others. And I have come to grips with this. That, in my mind, was stealing.” Do you believe that this is reflective of the culture at Enron? Was illegal or immoral activity celebrated? How so?
What actions could have been taken (and by whom) to prevent this scandal from happening? Do you believe that anyone could have stopped this scandal from taking place?

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