Law's Seligman testifies on Enron collapse

By Jessica N. Roberts

In testimony before a U.S. Senate banking committee, Joel Seligman, J.D., dean and the Ethan A. Shepley University Professor at the School of Law, attributed the Enron collapse to the widespread deterioration of the fundamental business principles of full disclosure and corporate accountability.

Joel Seligman, J.D.

Seligman, a noted securities law expert, was one of several experts invited to take part in the hearing, scheduled in the wake of the Enron fiasco to provide the Senate's Committee on Banking, Housing and Urban Affairs with testimony on "Accounting Practices and Options for Reform."

In addition to testimony from the U.S. General Accounting Office, the committee heard from a panel of experts with suggestions concerning regulatory oversight, conflicts of interest and other issues that should be considered in efforts to prevent corporate meltdowns such as the Enron failure.

Seligman's testimoy can be viewed in full at law.wustl.edu/whatsnew/enron.html.