I've been stewing on the Enron movie since I saw it last Saturday. I thought I'd blog about it right away - but I couldn't.

Because on one level, it's a story about yet another white collar crime that didn't effect me. After all - I never did quite get the Savings and Loan crisis that was the last big white collar crime.

But I don't feel that way about this movie. No not one bit. In fact - filmmaker Alex Gibney does something I didn't think was possible... Forcing us to think about the underlying 'morality' or lack there of, of almost every facet of our economic lives.

But - I've jumped to the end of the post, let me go back a bit.

The central thesis of the film (although I'm not sure Gibney would agree) is the Milgram Experiment. These are experiments in the Early 60's about obedience to authority. Milgram basically theorized - and proved - that average people would to horrible things if they had a person they accepted as an authority figure taking responsibility for the actions. The Milgram experiments could be used to explain Abu Ghraib, or Nazi Germany, or the pre-bust condition of the US Stock Market. People - when told by 'people in charge' that their actions (though seemingly immoral) were 'authorized' and that they were 'not responsible' went on to do horrible things.

Enron - it seems - was a group of well meaning folks. All passionate about changing the way natural gas, electricity, and other commodities were traded. And that passion - combined with a strong and charismatic leader - allowed them to embrace, even enjoy, a series of terrible acts that had very real consequences.

The intercutting of the traders laughing and joking about their obscene profits - as the power plants they took off line turned California into blacked-out nightmare - are haunting.

The truth is - those traders didn't know, and didn't care to think about, the consequences of their actions. It is only in Gibney's cutting room that the impact of the blackouts take on such vivid dimension.

But that's kind of the point.

The Savings and Loan Crisis. Abu Ghraib . Guantanamo Bay. People followed orders. People were told by their 'superiors' that they were absolved of responsibility. And then people acted in their own self interest - with the impunity of a charismatic figure who told them with a commanding tone and a clear voice that what they were doing was right.

If you take this lesson and hold it up more broadly to the ethics of American Business - it's unlikely that Enron has changed anything. The guy at the local Circuit City who tries like crazy to sell me a extended warrantee only knows that he gets a 'spiff' (cash or something free) for every x of these dogs he can pawn off. Back in corporate, they know that the odds are by the time your vcr, tv, or toaster oven breaks - you'll have long forgotten that you bought the extended warrantee. But the sales guy gets a pat on the back, and so he'll look you in the eye and swear 'it's a good deal.' It isn't.

Neither was Enron.
Neither was Abu Ghraib .

Lying has become an accepted part of the culture of American Business. Ethics are out. Uncool. Not profitable.

Hey - even a guy from Princeton has figured it out. On Bullshit is a best seller that asked the question -have we really come to accept lying as an accpeted part of our daily discourse. The answer- it appears - is yes.

Back to Enron: The Smartest Guys in the Room. This film is a must see. Not as much of a laugh riot as Supersize Me, not as incendiary as Fahrenheit 911, but in its clear, thoughtful way, a deeply moving film.

Everyone at Enron thought they were doing the right thing. Everyone loved being along for the ride. No one took personal responsibility for their actions, or its impact on others. And now a bunch of conservative pensioners and utility workers are broke. And Kenny Boy isn't getting his calls returned from the White House.