As a third edition, this book owes an obvious debt to all who encouraged the publication of the first two editions. This especially includes all of my ExxonMobil colleagues, who were responsible for training me in the fundamentals of finance, controls and business ethics. Thanks also go to my publisher, Martin Scrivener, who supported the vision of the book from its inception.

Special thanks also go to the Enron resisters, Sherron Watkins, Jordan Mintz and Vince Kaminski. These three gave generously of their time during the writing of the first edition. Each then came to my Ethics and Finance class at University of Houston’s Bauer College to discuss their case studies. The discussions were not always easy for them. Frequently they involved searching critiques of their actions and their reasons for not taking other routes. All three not only remained open to the discussion, they actively participated in the “what else could have been tried” brainstorming. Sherron Watkins has also been a steady font of information about the latest developments in corporate governance, business ethics and whistleblowing. It was Sherron who put me in contact with Richard Bowen; the Citigroup cases were made possible as a result. More recently, Sherron connected me with Helen Sharkey whose Dynegy story is discussed in Essay 7. Sherron has also come to UNC Kenan-Flagler to discuss her Enron case.

Thanks also go to those who looked at the outline for the second edition or the Financial Crisis cases, offering encouragement and suggestions. Gretchen Morgenson and Bethany Mclean both looked at the book’s outline and encouraged me to proceed. Loren Steffy, then business columnist for the Houston Chronicle, did the same. Loren also put me in touch with Francine McKenna, whom he described as a most valuable source on accounting and auditing issues. Francine completely lived up to that reputation. Several cases, notably the AIG case, were significantly improved as a result. Richard Bowen patiently guided me through the labyrinth of Citigroup’s organization and controls system.

Eric Kolchinsky, the former Moody’s Managing Director, deserves special recognition. Despite having to rebuild his career from scratch following his forced departure from Moody’s, Eric found time to educate me on the methodologies used to rate subprime mortgage RMBS and CDOs. He also candidly described the life of a whistleblower in the financial world. This shed light on certain inadequacies in the SOX whistleblower protections, a reality recognized by the fact that such protections were enhanced by Dodd-Frank.

The new cases for this third edition were compiled with the help of Kenan-Flagler MBA teaching assistants John Socha, Amela Dybeli and Rob Liford. Sam Shaw, a UNC undergraduate, also helped research these post-Financial Crisis cases. I am grateful to the Kenan-Flagler Business School for allowing me to adapt my UH course into a new course, “Resisting Corporate Corruption”. This course now forms part of the School’s core ethics curriculum.

Last but not least, more than thanks go to my wife, Deborah, and my son, Greg. Their love and encouragement, plus the occasional reminder to take a needed break, were essential to sustaining me during the writing of this work.