Reverberation: The Loss of Consumer Confidence
A June 5th, 2006 Gallup poll revealed that 3 out of 4 American’s believe that top executives at large corporations participate in practices similar to those of the top executives at Enron. Furthermore, 9 out of 10 Americans felt that preventing another Enron situation is crucial to the overall health of the nation. Unsurprisingly, once the true impact of the Enron scandal had reverberated throughout the economy, consumer confidence in corporate America dropped to unprecedented lows. More than a decade later, the word “Enron” itself is synonymous with corporate greed and executive deception; despite the numerous intervening corporate scandals in the years since. This reinforces the powerfully negative impact of the Enron scandal on Americans at every level.