Questions are worth 5 points each.

1. Explain the concept and rationale behind mark to market accounting. Why do you suppose the SEC allowed Enron to engage in mark to market accounting?

2. Describe the Enron corporate culture. Explain how the following reinforced the Enron corporate culture and the notion of survival of the fittest? * Rank and yank * Executives engaging in extreme sports

3. Skillings favorite book is entitled The Selfish Gene. The book contends that human nature is steered by greed and competition in the service of passing on genes. Is money the primary thing that motivates people? Explain.

4. Why were the Wall Street analysts willing to believe anything about Enron? What factors perpetuated the Enron myth? Why were the warnings ignored?

5. In what way is the Enron scandal similar to what happened to the Titanic?