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Article: Investment Banks: The Role of Firms and Their Analysts with Enron and Global Crossing.
- Article from:
- General Accounting Office Reports & Testimony
- Article date:
- April 1, 2003
CopyrightCOPYRIGHT 2003 Stonehenge International. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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GAO-03-511 March 17, 2003
In the wake of a series of recent corporate scandals and bankruptcies, the Sarbanes-Oxley Act mandated that GAO study the involvement of investment banks with two companies, Enron and Global Crossing. In this report, the term "investment bank" includes not only securities firms but also those bank holding companies with securities affiliated or business divisions that assist clients in obtaining funds to finance investment projects. Since the activities identified in this report are the subject of ongoing and extensive investigations and litigation by competent authorities, it is not our role to determine the propriety of any of the ...