Can Someone Explain The Enron Scandal To Me?

[AAP]

Did you read of the exec. secretaries who had salaries of $400K and more? Damn.

And the Enron in Europe just had the corporate auction sale. It was on the news.... they interviewed one guy that came out of the building with a computer and he said it was just surreal. That many of the computers for sale in there still had the employees family photos on the desktop as a screen saver.

 

[rushx79]

Enron employees sold their stock and made millions while the top executives got fucked.

this is hands down the best explanation of the enron scandal.. fucking no good employees, always trying to screw over their loyal executives.

 

[p0ink]

this is hands down the best explanation of the enron scandal.. fucking no good employees, always trying to screw over their loyal executives.

hahaha

 

[p0ink]

I'm still waiting to here the explanation from these bleeding heart liberals like ryanh....i can just picture it now

'well, after the republicans were done burning down nursing homes and orphanages, selling the elderly's meds, and dumping toxic waste into EVERY resevoir in the country, they needed to make the rich richer....'

 

[beefybull]

Enron did not side with Bush or Clinton. The fact is, they pumped big money into both Democrat & Republican ventures because they wanted political alliance no matter who won. If they would have not tanked, we're talking deregulation of all energy with Enron being the biggest fish out there. It'd be the biggest company of all time and worth more than Microsoft. The top execs were very smart and very scandalous. However, nothing Enron did to make money (being nothing but a paper middleman between energy producers and consumers) was illegal except the falsifying of reports. It's sad that people lost their life savings, etc., but you have to realize that for a while they were profitting off the energy crisis in CA while others were starving or going out of business b/c of it.

Also, for all you haters of George Dubya, stop hatin'. He's the best president since his dad (lol) and a helluva lot better than Clinton. Clinton upped the war on drugs immensely, vetoed pimp Republican bills, etc. He was so politically cautious after all of the scandals that he completely lacked the ability to be an effective president (did he ever have it in the first place?). George Dubya has the advantage of being a Republican with a majority Republican house and until recently, a Republican majority senate (the way it should be, btw), so he can pass a lot of good bills. While I dont agree 100% with what the Republicans have to say, I'd say its above 90%. Their solutions are much more realistic than the democratic plans and Liberals always just throw money at problems.

 

[The Dude]

All of you are pretty much wrong.. And to say Bush had nothing to do with it is assanine. Enron is a texas based company who happened to be Bush's top campaign contributor. It would be very foolish to think that Bush was totally blind to the situation at hand. And one must look at Arthur Anderson as well... The nation's top accounting firm falsifying/shredding documents.

Basically what happened was that Enron top execs., not necessarily Lay, created partnerships to transfer the bulk of Enron;s debt to... However one must realize that this is a perfectly accepted practice as long as it is noted in GAAP format. Contrary to belief, this information was out there. One just had to know where to look. Alot of top investors got out in due time without losses.

And don't think for one instant that any Enron employee will get legal actions against them... In reality they were unethical an very misleading, however they didn't do anything illegal. They bent the rules at every step of the way and were able to legally manipulate their financial disclosures. If anyone is going to get legal actionsm it will be Arthur Anderson accounting firm/



And to answer your question smalls. Enron started out as an energy pioneer. They created the first intercontinental pipeline in the United Stated. Then in the latter part of the 90's they got into telecommunications with things such as broadband services.

Yes, but they backed Dems and Reps. They poured more money into Dems than Reps overall. Like most corporations, they go with the flow. When Bush challenged Ma Richards, they backed her BIG TIME. The contributed A LOT to Clinton and when they came calling for special help from his administration, they usually got it. Bush's administration did no such thing. Funny how the truth hurts.

 

[spongebob]

Yes, but they backed Dems and Reps. They poured more money into Dems than Reps overall. Like most corporations, they go with the flow. When Bush challenged Ma Richards, they backed her BIG TIME. The contributed A LOT to Clinton and when they came calling for special help from his administration, they usually got it. Bush's administration did no such thing. Funny how the truth hurts.

hey DUDE, was that really you that gave me that bad karma for my comment on this thread?