remember Enron? u should… it’s probably one of the biggest examples of greed, fraud and blantant disrespect of humanity and the American economy. several corporate execs cashed out with millions (in some cases hundreds of millions) of dollars while many of 30,000 Enron employees lost retirement and savings accrued through Enron. they puffed up earnings numbers using a form of accounting (mark-to-market) that allowed them to basically cook there books like a big pot of water stew… (of course they we’re promising a big fat roast).
Enron’s deceptive ways caught up to them in the long run… as well as some other major institutions (Arthur Anderson, Merrill Lynch, CitiBank… and on and on…)
after all these years Jeff Skilling is finally on the stand to defend himself… and he better hope his story adds up because he’s facing 28 charges of fraud and conspiracy.
if you have an interest in this issue there’s a decent movie called “Enron: The Smartest Guys in the Room”
for more info and details you can keep up with the case at >> http://chron.com/news/specials/enron/
Just another example of the fat getting fatter and the poor getting poorer. It’s turning into a normal way of life these days.
I’m just glad they are paying for it but the damage is already done, right.
some are paying for it… but the big pigs are yet un-harmed (at least to the degree many would love to see).
That really sucks…they should make them pay for all the people that lost their retirement funds.
Just another day to them probably…no shame.