It made it a lot easier to escape detection for a longer period. And when Enron finally got caught, the financial impact was catastrophic to a lot of people.
It made it a lot easier to escape detection for a longer period.
How?
CFMA became law on December 21, 2000. Enron filed for bankruptcy in December 2001. Wow, that CFMA was a powerful thing. It helped them escape detection for almost a year.
Maybe there were other things involved? Things that would have resulted in bankruptcy, even without CFMA?
Or was it all Phil Gramm's fault?