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Prior to December 2nd, Enron was one of the most admired companies with a market capitalization of $80 billion. Enron was seen as a pioneer for creating marketplaces for deregulated commodities. However, the world would quickly realize that Enron was not as financially sound as it appeared to be. Enron's stock value dropped from a high of $90 in August 2000 to a low of $0.26 per share just prior to bankruptcy. On November 28, 2001 the company's bonds were downgraded to "junk" status. Over 4,000 Enron employees lost their jobs after the bankrupt declaration as well as losing a huge portion, if not all, of their retirement funds that were invested in Enron stock...
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