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Technology Stocks : Intel Corporation (INTC)
INTC 37.28-0.6%Dec 16 3:59 PM EST
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To: Amy J who wrote (165430)5/28/2002 10:05:16 AM
From: The Duke of URL©  Read Replies (1) of 186894
 
"because only an officer could sign for the debt they acquired. Banks don't give out loans without officer signatures. Financial"

The loans were structured to appear that they were loans of the special entity, they did not require the signature of an enron officer.

Of course, they really were contitional liabilities of enron and should have been listed as such on the balance sheet. The accountants who were Anderson Consulting convinced the Accountants who were Aurthur Anderson that they (and the stockholders) had no need to disclose this on the balance sheet and justified not disclosing this by making the loan guarantees payable by enron with enron STOCK. The failure to disclose these conditional liabilities which represented maybe ALL enrons net equity was the problem.

This really has nothing to do with employee stock bonus programs.
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