#$%@ Enron and Worldcom!

I’m not a violent person, but I have fantasies of taking a spiked club to some of these greedy gut bastard CEOs who have screwed our country’s economy and sit there laughing at the working -class slobs who are suffering as a result. In my opinion they’re as bad as Al-Qaeda. To cripple our nation’s (and the world’s) economy, put people out of work, increase hunger and homelessness- you might as well bomb cities. What really chaps my butt is that these maggots will probably get a slap on the wrist with a wet noodle and go off to some tropical island with a million dollars while the rest of us suffer. :mad: :mad: :mad: :mad: :mad: :mad: :mad: :mad: :mad: :mad: :mad: :mad: :mad: :mad: :mad:

WARNING! You are dangerously close to achieving ‘frowny’ critical-mass!

If it’ll make you feel any better, I’ve got a whole bunch of Enron stock I can let you have for way less than I paid for it. Deal?
Seriously, those two are the reigniing champs of a very fucked up situation. The 5% growth of the '90s apparently didn’t really happen, and I believe most of the business community, of which I am part, yearns to see some major prison time land on a few of those pirates.

The part I’m most out of touch with is the motivation. In the early days of the Enron bankruptcy, it was revealed that the monies taken out of the company by various officers came very close to the billion dollars of off books debt that sank 'em.

Now if I could run a company that was successful, and take home a million bucks in a year, I’d be plenty happy. So why does somebody need to take $120 million and fuck up the business?

Thinking of the junk bond king – http://www.bartleby.com/65/mi/Milken-M.html

and others, too.

The sad truth…:frowning:

Welcome to capitalism (now in transition to oligarchy).

Vote GOP!

Would be a shole lot better and a far better message if the shareholders would just round these criminals up and hang them in public. Might want to have a hard look at the auditors also. This doesn’t diserve a slap on the wrist as much as a snap of the neck.

45/70: you realise that Andersen ceased to exist last year as a direct result of Enron/WorldCom, right?

Do you have, or can you get, the actual certificates for them ? I heard that some people where keeping them 'cos they may be collectable one day. They may of course just be living in hope.

Just thought I’d share.


Let’s get rid of all businesses! We don’t need businesses. We need jobs.

Welcome to gross oversimplification (now in transition to hyperbole and mindless political knee-jerking).

If only it wear so easy to dismiss. The actions of Enron were made possible by the radical deregulation schemes of the GOP on the energy sector. Also, numerous attempts to reform the accounting profession and GAAP reporting were blocked by GOP congressmen as well (and in both cases aided by DEM lackies as well).

While many Dems also embarrassed themselves in the Enron debacle, the majority of slime ended up on the GOP side of the things. I guess Enron, Global Crossing, Adephia, AA and Worldcom felt they were getting better bang for the buck from their GOP lackies then their DEM lackies. I preferred the political scandles were only the interns were getting screwed. . .

To the OP, congrats:

might be the stupidest fucking thing said all week. A couple of corporate bankruptcies with, at best non-violent felons at the core, is equal to the cold blooded murder of thousands. :rolleyes:

Please stop by the front desk for your prize.

Because greed and stupidity go hand in hand…?

Seriously, you would think that they would at least try to not be so blatant about it. That someone at some point would say “Hey, hang on, let’s not shit where we eat so to speak and save something to grift later…”

(I really don’t know… just venting a little.)

And a special heckling to me, as well, for not proofing my post even though I had not had my coffee yet. Idiot asshat!


Wouldn’t it be nice, though, if some of the CEO’s and other execs were actually charged and convicted? And wouldn’t it be sweet if they actually had to do hard time? And surrender their ill-gotten gains?

Oh, horseshit. The actions of Enron were made possible because its employees were crooks. Deregulation didn’t force those accountants to cook their books.

However, the lack of indictments does make one wonder if the Justice Department is doing thier job with all due tenacity.

Maybe they’ll end up like the tobacco companies and pay a hefty fine, the cost of which they’ll pass through to those whom they victimized.

The “accountants” didn’t “cook” the books at Enron. The books accurately reflected the deals pursuant to the very slack accounting rules (which they helped to craft, and federal energy policy which they helped write with Tricky Dick). AA certified the books, which were very, very, very aggressive, but which were not out and out cooked (unliked Worldcom and Adelphia- which is why those criminal actions are going so much better BTW).

In fact, if they had just bothered to keep the paltry 3% investment rule right, all those off the books partnerships would have been GAAP (probably. . . ). The executives of Enron were able to do what they did because the energy sector was deregulated, this allowed all of these schemes to take place in the first place.

Prior to that, there was iron fisted control over debt and unregulated businesses (still is, on utilities). What Enron did wrong, accounting wise was the unwritten guaranties of the “off the books” partnership disguised loans and the clever “turn debts into assets, and bad divisions into paper profits” with insiders reaping the profits for helping Enron make their numbers. And the shredding of documents-- ultra stupid.

This of course does not even touch all of the crap they did with the deregulated California energy markets (which may actually be crimes FWIW).

If you are saying that the mere fact that the markets were deregulated did not force those assclowns to scheme and pervert the process for personal gain- sure. But it sure allowed them to. And they would not have been able to without the deregulation which they spearheaded with their cash and lobbying of their GOP lackies (and to a lessor extent their DEM lapdogs).

Or if you are just being a GOP apologist because GW got caught having “political relations” with his good friend “Kenny Boy” and Tricky Dick is still trying to hide his notes from the energy policies meetings with Enron ect. . ., then all this will have been futile.

elf6c, you honestly think that Enron engineered every one of their shady deals in the 9mo that Bush was president (before the collapse), and not a single thing before then?

*Richard Nixon * is behind the Enron scandal? My God! somebody do something!!!