caa a22 4500 378886649 CHVBK 20180305123444.0 cr unu---uuuuu 161128e20041022xx s 000 0 eng 10.2202/1553-3832.1008 doi (NATIONALLICENCE)gruyter-10.2202/1553-3832.1008 McAfee R. Preston 1Caltech The Real Lesson of Enron's Implosion: Market Makers Are In the Trust Business [Elektronische Daten] [R. Preston McAfee] How did Enron, a firm worth $60 billion, collapse over the discovery of a billion or so in hidden debt and fraudulent accounting? It didn't. Or, at least, not directly. Market makers like Enron and Ebay are in the "trust" business, just as banks and insurance companies are. Once trust was lost, the rest of Enron's value quickly disappeared. The maintenance of customer trust is an important, and frequently mismanaged, aspect of business strategy. The legislative response of Sarbanes-Oxley may do some good, but cannot really ensure trust. ©2011 Walter de Gruyter GmbH & Co. KG, Berlin/Boston Enron nationallicence signaling nationallicence trust nationallicence bank run nationallicence expectations nationallicence eBay nationallicence The Economists' Voice De Gruyter 1/2(2004-10-22) 1:2 2004 1 ev https://doi.org/10.2202/1553-3832.1008 text/html Onlinezugriff via DOI 1 research article jats NATIONALLICENCE 856 40 https://doi.org/10.2202/1553-3832.1008 text/html Onlinezugriff via DOI NATIONALLICENCE 100 1- McAfee R. Preston 1Caltech NATIONALLICENCE 773 0- The Economists' Voice De Gruyter 1/2(2004-10-22) 1:2 2004 1 ev CC0 http://creativecommons.org/publicdomain/zero/1.0 nationallicence BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-gruyter