The consultants recommended weakening parts of the Sarbanes-Oxley Act of 2002, a law designed to prevent the type of corporate fraud that resulted in the bankruptcy of Enron, at the time the biggest in U.S. history. Enron’s chief executive, a former McKinsey senior partner, went to prison for his role in that scandal. Barely a year after Schumer and Bloomberg showcased the McKinsey report, it disappeared. And no one wanted to resurrect it as Wall Street slipped ever more deeply into an economic abyss not experienced since the Great Depression. News articles, bestselling books, and
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