A03 - Context

Question 1

5 points
1. Who were Enron?
2. What is an energy company?
3. what was a comodity company?
4. what is a service company?
5. When did they start?

Answer 1

1. An energy, commodity and services company
2. An energy company sells oil and natural gas
3. A commodity company is anyone selling raw materials like coffee or oil
4. A service company makes money by doing other things rather than selling comodities ( e.g. a design company)
5. They started in 1985 when 2 other large companies merged, one selling natural gas, one selling crude oil

Question 2

5 points: What happened to them?
1. In 2000 what did enron claim?
2. What had america named the company and for how many years?
3. how many staff did they employ?
4. when did they become bankrupt?
5. who was resposible and for what?

Answer 2

1. In 2000 Enron claimed revenues of $101 billion
2. They had been names America’s most innovative company for 6 consecutive years
3. they employed 29 000 staff
4. they became bankrupt in december 2001
5. the directors were responsible for a creatively planned accounting fraud

Question 3

The Lewinsky/Clinton scandal

Answer 3

The Clinton/Lewinsky scandal, which broke in the late 1990s, involved President Bill Clinton’s affair with White House intern Monica Lewinsky. The affair began in 1995 and lasted several months. Lewinsky confided in her colleague, Linda Tripp, who secretly recorded their conversations. These tapes eventually became public, sparking widespread media attention.

In 1997, Lewinsky was subpoenaed in a lawsuit by Paula Jones, who accused Clinton of sexual harassment. Clinton initially denied the affair, but the investigation, led by independent counsel Kenneth Starr, grew. The discovery of Lewinsky’s blue dress with Clinton’s DNA provided key evidence.

By August 1998, Clinton admitted to “inappropriate intimate contact” during grand jury testimony. The Starr Report, issued in September, laid the groundwork for impeachment. The House approved charges of perjury and obstruction of justice, and Clinton became only the second U.S. president to be impeached. However, the Senate acquitted him in early 1999.

Despite the scandal, Clinton’s approval ratings remained high, and Lewinsky faced intense public attention, becoming a symbol of the affair.

Question 4

Social Darwinism

Answer 4

Spencer applied the concept of “survival of the fittest” to unchecked capitalism, advocating for minimal government regulation of businesses. Unlike Darwin, who focused on natural selection, Spencer argued that individuals could inherit learned traits, such as thriftiness and moral behavior, from their parents.

Question 5

Bush v Gore

The 2000 US Election

Answer 5

The 2000 U.S. presidential election, contested between Al Gore and George W. Bush, became one of the most disputed in history. The election was decided by Florida’s 25 electoral votes, which were so closely contested that they triggered recounts, legal challenges, and significant issues with the voting system, particularly the punch-card ballots and “hanging chads.” While Gore won the popular vote, Bush’s narrow lead in Florida led to a legal battle that ultimately reached the U.S. Supreme Court.

In a 5-4 decision, the Court halted the recount, citing inconsistent standards for counting votes, which it ruled violated constitutional principles. This effectively awarded the election to Bush, making him the first president in over a century to win the presidency without winning the popular vote.

The fallout from the election deepened partisan divides, with Democrats questioning the fairness of the result and Republicans celebrating the victory. It also laid the groundwork for future election disputes, as both parties began preparing legal teams for potential recounts, further intensifying political polarisation in the country.

Question 6

2000-01 California electricity crisis

Answer 6

The 2000-01 California electricity crisis was caused by a combination of market manipulation, power shortages, and price caps on electricity for consumers. Factors like drought, delays in new power plants, and tactics used by companies like Enron created an artificial shortage. This caused wholesale electricity prices to soar and led to rolling blackouts, damaging the economy. The crisis contributed to the bankruptcy of Pacific Gas and Electric (PG&E) and nearly led to the collapse of Southern California Edison. The root cause was a 1996 deregulation law that allowed energy companies to exploit the market, resulting in financial losses of $40 to $45 billion.

Question 7

9/11

Answer 7

On September 11, 2001, Al Qaeda terrorists hijacked four airplanes. Two were flown into the World Trade Center in New York City, another hit the Pentagon, and the fourth crashed in Pennsylvania after passengers resisted the hijackers. Nearly 3,000 lives were lost in the attacks. In response, President George W. Bush initiated the War on Terror and launched a military campaign in Afghanistan in October 2001 to dismantle al-Qaeda and overthrow the Taliban. By November, the Taliban regime had fallen, and a new government was established.

The events of 9/11 led to significant shifts in global priorities, including the 2003 invasion of Iraq based on the belief that the country had weapons of mass destruction. These actions, part of the broader War on Terror, resulted in long-term conflicts in both Afghanistan and Iraq. The attacks also prompted countries worldwide to adopt more stringent anti-terrorism measures. The effects of 9/11 continue to shape international politics, security policies, and global relations.