What are they generally and how did they allegedly fail stakeholders around that time?You mention credit ratings agencies above. Very important

 The Enron Corporation was an American energy commodities and services company based in Houston, Texas. It was founded in 1985 as a merger between Houston Natural Gas and InterNorth; both corresponding small regional companies in the U.S. Enron employed approximately 20,000 workers and was one of the world's significant electricity, natural gas, communications, and pulp and paper companies with a claimed revenues of close to $101 billion in the year 2000.

Major factors contributing to the bankruptcy included widespread corporate fraud, corruption, and poor accounting and financial practices. The company's stock price plunged, and it was forced to declare bankruptcy in 2001. Due to questionable bookkeeping in later years, Enron failed to make timely filings with the Securities and Exchange Commission after 1996. Subsequently, it disclosed a massive fraud from 1997 onwards involving overstatement of revenue and under-representation of debt. The company's collapse from a leading powerhouse in business to a corporate bankruptcy was caused by various factors. Slippages in earnings reports, pressurized sales figures on their shares, which declined steadily since 2000, overvaluation of its assets, and off-balance-sheet financing were some of them (Enron Corporation).

Aftermath for the company and other stakeholders included widespread financial losses and criminal charges for many of the company's executives. Enron's bankruptcy also resulted in the collapse of Arthur Andersen (who was convicted of obstructing justice through shredding documents), one of the world's largest accounting firms. As a result of actions taken by banks and credit rating agencies during the scandal, they were recently investigated by state attorney generals attempting to recover funds for creditors and investors harmed by these institutions' conduct.

 Enron was one of the largest bankruptcies in American history. In the last 20 years, the most prominent business entity to file for Chapter 11 bankruptcy was Enron Corporation. The company's demise came as a shock to many, partly because its fall from grace happened quickly. In 1999, Enron was ranked as America's 7th most admired company; by 2002, it had completely fallen apart and ceased operations altogether. Although many had predicted that deregulation would eventually lead to such a demise, even investors who thought they were protected because they held derivative securities failed to predict how far things would deteriorate