Governance Q&A

Q. The US is supposed to be the strongest, most transparent market in the world, with the best possible standards of corporate governance. But look what happened to Enron. Is this a setback to the whole governance movement? A. Enron demonstrates the limits of what governance can accomplish by means of externally imposed standards. It appears there was fraud and criminal behavior going on at Enron, and no governance system can protect against that. That's a given. Still, Enron represents a