Accounting scandals and bankruptcies at Enron and other large U.S. firms led to major changes in the listing standards of the stock exchanges and the most important federal securities legislation since the 1930s—the Sarbanes‐​Oxley Act. What led to the collapse of Enron? More importantly, what are the major lessons for public policy illustrated by the Enron experience? What are the likely outcomes of the policy changes that have been approved to date?What other changes in accounting, auditing, the tax system, and the rules of corporate governance would reduce the frequency and magnitude of future corporate bankruptcies and better serve the interests of general shareholders? Join us for a summary of this new book and a spirited discussion of these issues.