The Amazing Disintegrating Enron
from the how-quickly-they-fall dept
I’ve been reading a lot of articles about the collapse of Enron, but this one from the Economist has one of the clearest explanations of why they collapsed so quickly and so impressively. It’s still not entirely clear what happened (and how much – if any – illegal activity occurred), but it’s just another reminder that you should never trust the random financial statements companies throw out. It’s so easy to cook the books (even legally) that people put way too much weight on those financial reports.
Comments on “The Amazing Disintegrating Enron”
No Subject Given
there are folks saying “teapot dome scandal” here, with Racicot being in the RNC post now, and an acting Enron lawyer, I’m sure it’s going to be a big story.
cowboys
This was a company whose pension fund was heavily invested in its own shares. An obvious scam me thinks.