Ten years on from the Enron scandal, the lessons have not been learnt.

So argues Andrew Hill in the FT. Points include: “Complexity obscures weakness. The complicated derivatives and off-balance-sheet vehicles that undermined banks in the financial crisis were the inheritors of the exotically titled partnerships – Chewco, Jedi, the “Raptors” – that helped entangle Enron’s legitimate businesses.” and the conclusion:  “Within six or seven years of the fastest fall from grace of any Fortune 500 company, we had largely forgotten the fatal flaws that caused it. Instead, we fostered an even grander, greedier, more systemic scandal. Such wilful blindness makes me worry what catastrophes we are now cultivating for the years ahead.”