3 ms·
There isn't a lot of substance but the Enron comparison is awfully loaded. The article specifically calls out the use of off balance sheet entities to hide cos
by peloton 10y ago
There isn't a lot of substance but the Enron comparison is awfully loaded. The article specifically calls out the use of off balance sheet entities to hide costs-- for people who follow this stuff, that immediately triggers memories of Enron's use of special purpose entities and Lehman's Repo 105 off balance sheet shenanigans.