Given the recent implosions of Enron, GlobalCrossing and WorldCom -- and the alleged accounting abuses at Arthur Andersen -- pundits, lawmakers and activists are calling for more accountability from America's corporations. Is more federal oversight the answer? Or should we merely prosecute abuses with laws already on the books? Are the tumbling corporate giants positive signs that markets are working, or do they represent shortcomings in American capitalism? And what about pension plans? How might the failures of these companies affect Social Security choice? Check below for the latest work Cato scholars have done to address these issues.

For more on a similar topic, visit Cato's research page on corporate welfare.

Studies

"The Uses and Abuses of Structured Finance," by Barbara T. Kavanagh, Cato Policy Analysis No. 479, July 29, 2003.

"Should Congress Repeal Securities Class Action Reform?" by Adam C. Pritchard, Cato Policy Analysis No. 471, February 27, 2003.

"Empire of the Sun: An Economic Interpretation of Enron’s Energy Business," by Christopher L. Culp and Steve H. Hanke, Cato Policy Analysis No. 470, February 20, 2003.

"Accounting at Energy Firms after Enron: Is the “Cure” Worse Than the “Disease”?," by Richard Bassett and Mark Storrie , Cato Policy Analysis No. 469, February 12, 2003.

"A Preliminary Perspective on the Major Policy Lessons from the Collapse of Enron," by William A. Niskanen, A Cato Commentary, July 2002.

Opinion and Commentary

"FASB Fumbles Stock Options," by Alan Reynolds, A Cato Commentary, The Washington Times, April 17, 2004.

"'Reforms' Miss the Mark," by Alan Reynolds, A Cato Commentary, USA Today, April 21, 2004.

"Martha's Mistrial: The Insider Trading Accusation Came from a Cowardly Press Leak from a Congressional Committee," by Alan Reynolds, A Cato Commentary, National Post, March 9, 2004.

"Hold on to That Mutual Fund," by Alan Reynolds, A Cato Commentary, The Washington Times, November 2, 2003.

"Lighten the Regulatory Load," by Alan Reynolds, A Cato Commentary, USA Today, October 21, 2003.

"Designed to fail," by Richard W. Rahn, A Cato Commentary, The Washington Times, August 21, 2003.

"For Whom the Feuding Bells Toll," by Alan Reynolds, A Cato Commentary, The Washington Times, August 3, 2003.

"Voting on Stock Options," by Alan Reynolds, A Cato Commentary, Creators.com, July 3, 2003.

"Obstructing Injustice: The Stewart chase.," A Cato Commentary, NRO, June 25, 2003.

"Corporate Accounting: Still Evolving After All These Years," by Chris Edwards, A Cato Commentary, Ideas on Liberty, February 2003.

"Dividend Tax Relief: Let’s Go Greek!," by Chris Edwards, A Cato Commentary, Tax Notes International, January 20, 2002.

"The Paper Chase," by Timothy Lynch, A Cato Commentary, Forbes Magazine, January 20, 2003.

"Spitzer’s Shakedown: His rough game was always about money and politics," by Alan Reynolds, A Cato Commentary, National Review Online, January 6, 2003.

"Worry More About Lawyers," by Alan Reynolds, A Cato Commentary, USA Today, December 22, 2002.

"The Interminable Persecution of Martha Stewart," by Alan Reynolds, A Cato Commentary, Creators.com, October 24, 2002.

"Accountability for Whom?" by Doug Bandow, A Cato Daily Commentary, October 9, 2002. This article was first published in National Review Online, Oct. 3, 2002.

"Picking On Perks," by Alan Reynolds, A Cato Commentary, Creators.com, September 19, 2002.

"Big Brother Wants to Run Your 401(K)," by Alan Reynolds, A Cato Commentary, Creators.com, September 5, 2002.

"Irritating . . . but not culpable," by Alan Reynolds, A Cato Commentary, The Washington Times, September 1, 2002.

"Expect Adverse Effects From New Rules," by Alan Reynolds, A Cato Commentary, USA Today, August 15, 2002.

"Now It's Time for Government Reform," by Chris Edwards, A Cato Daily Commentary, August 12, 2002.

"More Beltway Madness," by Alan Reynolds, A Cato Commentary, National Review Online, August 6, 2002.

"How to fix AOL," by Alan Reynolds, A Cato Commentary, Washington Times, August 5, 2002.

"What's the Right Number?," by Richard W. Rahn, A Cato Daily Commentary, August 1, 2002.

"Overstocked Assumptions," by Alan Reynolds, A Cato Commentary, Washington Times, July 28, 2002.

"Expensing Stock Options Is a Faddish Fraud," by Alan Reynolds, Creators.com, July 18, 2002.

"A Criminal Red Herring in Corporate Reform," by Erik Luna, A Cato Daily Commentary, July 27, 2002.

"Another Confidence Game," by Alan Reynolds, NRO, June 28, 2002.

"A Hayekian Hangover," by Steve H. Hanke. The original version was presented as the Inaugural Friedrich von Hayek Lecture, The International Life & Annuities Forum, Southampton, Bermuda, June 26, 2002.

"Full Disclosure for Corporate Welfare," by Chris Edwards and Tad DeHaven, A Cato Daily Commentary, June 5, 2002.

"Don't "Enron" Social Security? It Already Is," by Andrew G. Biggs, A Cato Daily Commentary, April 8, 2002.

"Where Have All the Pensions Gone?," by Richard A. Ippolito and Thomas A. Firey, A Cato Daily Commentary, March 29, 2002.

"Don't 'Enron' Social Security?," by Andrew G. Biggs, A Cato Daily Commentary, February 16, 2002.

"The Scandal that Wasn't," by David Boaz, A Cato Daily Commentary, February 15, 2002.

"Why Enron Wants Global Warming," by Patrick J. Michaels, A Cato Daily Commentary, February 6, 2002.

"Three Myths About Enron and Campaign Finance," by John Samples, A Cato Daily Commentary, February 1, 2002.

"Shipman on Risk and Reward in Privatization Debate," Social Security This Week, January 31, 2002.

"The Enron Blame Game," by Jerry Taylor and Peter VanDoren, A Cato Daily Commentary, January 29, 2002.

"Enron Was No Friend To Free Markets," by Jerry Taylor, The Wall Street Journal, January 21, 2002.

"Business and the Fight for a Free Society," by Theodore J. Forstmann and Edward H. Crane, Cato's Letters No. 11, 1996. (PDF, 30 pp, 238 kb)

Books

Culture and Enterprise: The Development, Representation and Morality of Business, by Don Lavoie and Emily Chamlee-Wright (November, 2001).

From the Cato Handbook for Congress

"Enron, WorldCom, and Other Disasters," Chapter 22 of the Cato Handbook for Congress, 108 Congress.

Events

"The Company: A Short History of a Revolutionary Idea," A Cato Institute book forum, April 22, 2003.

"Public and Private Regulation in Securities Markets: What Role for the Exchanges?," A Cato Institute policy forum, March 10, 2003.

"Corporate Accounting: Before and After the Sarbanes-Oxley Act," A Cato Institute policy forum, October 29, 2002.

Television Appearances

William Niskanen discusses CEO pay for CNNfn, June 9, 2003 [Real Media].

William Niskanen debating President Bush's corporate governance proposals with author Kevin Phillips, July 9, 2002 [Real Media].