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Politics : PRESIDENT GEORGE W. BUSH
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To: greenspirit who wrote (221844)1/24/2002 4:44:20 PM
From: DMaA  Read Replies (1) of 769670
 
Oh, NOW I understand it - Enron failed 'cause the feds let them make too many profits:

The story line is simple: The feds looked the
other way while Enron reaped unconscionable
profits. With the help of accountants, the
company failed to pay income tax, inflated its
assets, and hid its debt in secret partnerships,
which it named Condor and Raptor. In November,
the company disclosed that it had overstated
profits and failed to report more than $1 billion in
debt. By the time the company went bankrupt,
executives had sold $1.1 billion in stocks, while
50,000 Enron employees lost their life savings.
The Enron logo, a big "E," actually resembles a magnet for money.

villagevoice.com
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