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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Secret_Agent_Man who wrote (145366)1/22/2002 10:38:00 PM
From: reaper  Read Replies (2) of 436258
 
<<Enron's off-balance-sheet activities weren't the mystery they've been portrayed to be.>>

I am so SICK and TIRED of hearing about what a "mystery" Enron's off-balance-sheet accounting was. There was nothing mysterious about it -- everything that you needed to know was in the friggin' footnotes (I mean, who cares about the damn DETAILS; do you need to look at the credit history of every god damn borrower to decide whether or not you want to invest in a bank) and signs of impending doom were readily apparant in the cash flow statement.

Look, I'm brighter than the average dim bulb out there, but I ain't no rocket scientist and I broadcast to many on this thread that Enron was likely going to suffer a liquidity crisis (I think I might have saved Tip a buck or two <g>) back when the stock was in the $30s (which was the first time I had ever LOOKED at an Enron financial filing), and I made enough for a nite out at MarginMike's restaurant on the short side to boot.

All this talk about how "complex" Enron's financials were is just an attempt by the money managers and Street analysts to deflect blame from themselves for being too lazy and or stupid to see what was plain as day right in front of their friggin' faces.

End of rant.

Cheers
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