Accounting scandals at many corporations and the collapse of Enron and several other large corporations have led many investors to question the value of corporate accounting, the deregulation of energy and telecommunications, and the use of modern risk‐​spreading instruments. That, in turn, has led to demands for increased federal regulation of accounting, auditing, and the rules of corporate governance. This book, by leading practitioners in the markets for risk‐​spreading instruments, focuses primarily on the effects of the collapse of Enron on the markets in which it operated and the specialized financial instruments that it used and concludes with a caution about a political overreaction to those developments. Please join the experts for a timely discussion of these issues.