It was a classic case of bad group think. The individuals assumed that as a group they could do no wrong while one or two of the more aggressive individuals undermined the whole group.

All of the top managers should be held responsible for the failure. They are (were) paid way too much money to be asleap at the wheel. They deserve to lose everything they own in stockholder lawsuits. They should be personally liable for any loses incurred by their failure to manage the business responsibly.

But that won't happen. One or two will take the fall while the rest of the Enron Bunch drink champaign and enjoy their early retirement.