P&I at 40: Cartoons from 2000 to 2009

The Enron accounting scandal, revealed in October 2001, eventually led to the company's bankruptcy in December 2001 -- the largest bankruptcy reorganization in U.S. history at that time. A consequence of the auditing failure was the passage of the Sarbanes-Oxeley Act. The scandal also led to the collapse of accounting firm Arthur Andersen in 2002.See related editorial "Timeout trouble"

In late 2002, the University of Texas Investment Management Co. published the returns for its private equity and venture capital portfolio. UTIMCO's move put pressure not only on managers, but other institutional investors. The action upset some managers. For more, see "Public scrutiny: Private equity disclosure stirring national debate"Also see related editorial "Public disclosure"

See related editorial "The participants who cannot revolt" about the widening gap between DB plans and DC plans.

See related editorial "Raising ethical standards" about the accounting scandals gripping the business world at the time.

See related editorial "Stop the carnival" about states underfunding their public pension systems.

See related editorial "An idea Down Under" about the Australian superannuation funds as a model for the U.S.

See related editorial "Modernizing a fund" about UPS leaving the plan to withdraw from the Teamsters Central States, Southeast and Southwest Areas Pension Fund.

See related editorial "Judiciary oversight" about a U.S. Supreme Court ruling from February 2008 that clarified a basic and important distinction between defined benefit and defined contribution plans under the Employee Retirement Income Security Act of 1974.

See related editorial "Ending the rating refuge" about the role ratings agencies played in the 2008 financial crisis.