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Investigative journalist who first publicly questioned Enron financial health in her landmark Fortune article "Is Enron Overpriced?"
Journalist / Author
Bethany McLean was a Fortune magazine reporter who in March 2001 published the article "Is Enron Overpriced?", the first major piece of journalism to publicly question the financial health of what was then the seventh-largest company in America. McLean, a former Goldman Sachs investment banking analyst, noticed that Enron could not explain how it actually made money despite its enormous stated revenues. When she called CEO Jeffrey Skilling for comment, he called her "unethical" for asking the question. Her article planted the seed that led to the unraveling of the largest corporate fraud in American history at that time. She later co-authored "The Smartest Guys in the Room" (2003) with Peter Elkind, the definitive account of the Enron scandal, which became a bestseller and was adapted into an Oscar-nominated documentary. McLean went on to become a contributing editor at Vanity Fair and authored "All the Devils Are Here" (2010, with Joe Nocera) about the 2008 financial crisis and "Shaky Ground" (2015) about Fannie Mae and Freddie Mac. She is widely regarded as one of the most important financial journalists of her generation.
Published "Is Enron Overpriced?" in Fortune (March 5, 2001), the first major article to question Enron financial health. Enron CEO Jeffrey Skilling called her "unethical" in response. CFO Andrew Fastow flew to New York to pressure her editors. The article triggered wider scrutiny that contributed to the eventual exposure of $74 billion in fraud.
Co-authored "The Smartest Guys in the Room" (2003) which became the definitive account of the Enron scandal and was adapted into a 2005 Oscar-nominated documentary directed by Alex Gibney.
Co-authored "All the Devils Are Here" (2010) with Joe Nocera, investigating the causes of the 2008 financial crisis and the role of Wall Street firms, regulators, and government-sponsored enterprises.
Co-author of "The Smartest Guys in the Room" (2003)
Enron whistleblower whose internal warnings corroborated McLean reporting
Enron CEO who called McLean "unethical" for questioning the company
Co-author of "All the Devils Are Here" (2010)
3 documented sources from official records, investigations, and reports
1970
Born in Missouri
1992
Graduated from Williams College with BA in Mathematics and English
1992
Worked as investment banking analyst at Goldman Sachs
1998
Joined Fortune magazine as a reporter covering corporate finance and Wall Street
2001-03-05
Published "Is Enron Overpriced?" in Fortune magazine. The article noted that no Wall Street analyst could explain how Enron actually made money. Skilling called her "unethical"; Fastow flew to Fortune offices to intimidate her editors.
2001-12-02
Enron files for bankruptcy, vindicating McLean original reporting. Her article credited as the first major crack in the Enron facade.
2003
Published "The Smartest Guys in the Room: The Amazing Rise and Scandalous Fall of Enron" with co-author Peter Elkind. Became a bestseller and the definitive Enron account.
2005
"Enron: The Smartest Guys in the Room" documentary based on her book released. Nominated for Academy Award for Best Documentary Feature.
2010
Published "All the Devils Are Here: The Hidden History of the Financial Crisis" with co-author Joe Nocera, examining the 2008 crisis.
2015
Published "Shaky Ground: The Strange Saga of the U.S. Mortgage Giants" about Fannie Mae and Freddie Mac.