Magazine
Latest Issue

Inefficient markets

Daniel Dafoe on Railtrack

Enron and the press

In last month’s Prospect, Richard Lambert, the former editor of the Financial Times, asked why the press had failed to see Enron coming. He acknowledges that part of the failure lies in the mood of the times. Unfortunately, he does not go far enough. It was, after all, a TMT (technology, media and telecoms) boom, and the Financial Times was at the heart of it. Just over two years ago, Pearson, owner of the FT, was applauded by the market for raising hundreds of millions of pounds to invest in internet ventures: FT.com was soon followed…

Register today to continue reading

You’ve hit your limit of three articles in the last 30 days. To get seven more, simply enter your email address below.

You’ll also receive our free e-book Prospect’s Top Thinkers 2020 and our newsletter with the best new writing on politics, economics, literature and the arts.

Prospect may process your personal information for our legitimate business purposes, to provide you with newsletters, subscription offers and other relevant information.

Click here to learn more about these purposes and how we use your data. You will be able to opt-out of further contact on the next page and in all our communications.

We want to hear what you think about this article. Submit a letter to letters@prospect-magazine.co.uk

More From Prospect