Derivatives: Darth Vader's Revenge Message Board

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Non-Tech : Derivatives: Darth Vader's Revenge

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To: Worswick who wrote (1042)	12/16/2001 6:25:37 PM
From: Henry Volquardsen	Read Replies (1) of 2794

LOL after 25 years of trading you do end up that way :) I've gotten rid of most of the facial tics and othe Tourette's symptoms but still have this annoying habit of waking up at 4:30. Can't break that habit. The Enron spectacle as been pretty entertaining. However it does appear to be just good old fashioned fraud and incompetence. Who needs derivatives disasters when you can simply diversify into all sorts of businesses at the top of the cycle. Businesses you know nothing about to boot. And then finance it with tons of debt that you conveniently hide in off balance sheet items that you then fail to disclose properly. Simply amazing. There is a real problem in the accounting profession if they let this sort of stuff go unreported. FASB is making a wonderful arguement for having their responsibities taken over by the SEC.

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