Comments on ''Governance, Supervision and Market Discipline:Lessons from Enron'', and the Author's Response:Comment I

At the outset, Professor Varma is to be complimented for the meticulously painstaking effort in putting together a comprehensive and very readable narrative of the Enron episode (and others of similar ilk around the same time), and the valuable analysis of the multi-dimensional ramifications of the actions and inactions of the players involved. Much of the available information (and of course there is no dearth of it, thanks to the American obsession with dissemination) is widely scattered over several resource sites, and the author's current effort to present the salient details in an organized format is to be strongly commended.