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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Bid Buster who wrote (145369)1/22/2002 10:38:19 PM
From: yard_man  Read Replies (1) of 436258
 
Had an acountant on trying to explain how the partnerships hid the debt and how stock was used to leverage their bets -- wasn't so much interesting for the guest, but for the questions that the interviewer asked.

Basically, he asked

1) why we should trust any wall-street analyst if they were duped by Enron?

2) Surely Enron is not just one bad apple -- if they (analysts) missed this, there's a whole bunch more out there getting ready to implode, right?

3) If ENE can "buy" the regulators -- why can't others?

4) The interviewer mentioned a study in which it was indicated that S&P earnings had been inflated by some 20% in the late 90's by accounting sleights of hand (levy institute) and asked the accountant fellow if he thought that was true -- he said it sounded about right <ng>

the whole tone of the thing was loaded with skepticism for wall street analysts and the financial reporting.

npr.org
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