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Non-Tech : The ENRON Scandal
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To: JBTFD who wrote (1893)1/30/2002 6:57:08 PM
From: Mephisto  Read Replies (2) of 5185
 
." This alarming statement is representative of the accounting-driven focus of U.S. managers generally, who all too frequently have little interest in maintaining controls to monitor their firm's economic realities.>>
I think trust will take a while to earn back when the public starts to understand more about the "financial engineering" tricks companies now use, legally. "

Mark, it wasn't until the Enron collaspe that I
understood how an accountant had used similar
dirty tricks on us in the past. I knew there was
something unusual, but I didn't understand it.

The accountant became a certified financial planner
so as well as doing people's income tax, he also
advised them on stocks. And he was hooked up to
a major brokerage house the area. It was a
conflict of interest. I felt like he cheated us
and the broker took advantage of us.
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