Herman Cain's Enron-esque Disaster

The story the GOP presidential candidate won't tell you about his years in corporate America.

—By Andy Kroll

Mon May. 23, 2011 3:00 AM PDT

What GOP presidential contender Herman Cain lacks in political experience, he likes to say, he makes up for with decades' worth of success in corporate America. He climbed the corporate ladder at the Pillsbury Company, chaired the Federal Reserve Bank of Kansas City, and rescued the failing Godfather's Pizza franchise. That business-centric message has won Cain his share of admirers: a focus group convened after a recent Fox News presidential debate overwhelmingly declared Cain the winner.

"I think that over 40 years of business experience is resonating a lot more with people than simply having political experience," he said on a recent Iowa visit. "Knowing how Washington works isn't necessarily an advantage. As a businessman going in, I don’t want to know how Washington works. I want to change Washington D.C. and so by not knowing how it is supposed to work I can ask tough questions that will help change the culture."