Enron Fails

One of the largest companies in the United States has failed. The Enron Corporation has asked a federal court for protection because it can not pay the thousands of millions of dollars of money it owes. Enron is an energy trading company that buys and sells electricity and natural gas. It also owns or controls several other companies that deal in several different products. Enron asked for bankruptcy protection for itself and fourteen of its …

…court to force Dynegy to pay ten thousand million dollars in damages. The Enron Corporation once was the world's largest energy trader. Its failure is affecting energy markets in many countries including Germany, Britain and India. Reports say companies and banks that have lent money to Enron could lose at least five-thousand-million dollars. Experts say what caused Enron to fail will be the subject of legal questions and court actions for many months to come.