If you like business bodice-rippers, these are blissful days. After the host of books that emerged from the dot com Götterdämmerung, another wave of cautionary tales has hit the shelves. I reached for Mark Westfield’s HIH after reading my third book about Enron, Mimi Swartz’s Power Failure, and was struck at once by a casual coincidence: that both Enron’s Ken Lay and HIH’s Ray Williams insisted on being referred to as ‘Doctor’. In Lay’s case, this was on account of his PhD in economics. Williams laid rather flimsier claim to his honorific, after Monash University rewarded him for various endowments with an honorary doctorate in laws in 1999.
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