When energy giant Enron collapsed in a scandal of nonexistent profits and falsified accounting in 2002, Lois Black lost her job. Worse, the legal secretary at the company's Houston headquarters lost everything in her 401(k) retirement savings—almost $150,000. "I know, I know—it was dumb to put so much of my money into Enron stock," says Black, "but [CEO] Ken Lay sent us constant voice mails saying everything was great. We believed it." … Back to Article
Join AARP
Join for Just $16 A Year
- Discounts on travel and everyday savings
- Subscription to AARP The Magazine
- Free membership for your spouse or partner
Tell Us WhatYou Think
Please leave your comment below.
You must be signed in to comment.
Sign In | Register