Conspiracy of Fools

I am reading Kurt Eichenwald's book on what happened at Enron. After 169 pages it is pretty clear what happened, some people got very greedy and lied. Pretty simple plot but complicated storylines. As you read the book you can Google the names and get images of these people. They don't look like crooks. It is amazing that there were a number of people that understood something was wrong but the chain of command or the normal business practice stopped their concern from being brought to a larger majorities view. So where does that put the school of thought that businesses can be ethical? How can an entity with no moral compass be ethical? Its like a virtual Ten Commandments that is there but really isn't.