5 ms·
same creative use of mark to market accounting but compared to FTX, Enron was fraud on difficult mode. They had to (attempt to) actually build things like power
by encoderer 4y ago
same creative use of mark to market accounting but compared to FTX, Enron was fraud on difficult mode. They had to (attempt to) actually build things like power plants in India. FTX just yeeted tokens to bag holders based on fancy darkmode graphic design and a screwball haircut.
- xdavidliu 4y ago> FTX just yeeted ticker symbols to bag holders based on fancy darkmode graphic design and a screwball haircut. I understand the words in this sentence individually, but not the sentence in its entirety. Can anyone translate?
- Aperocky 4y agoFTX gave out fancy worthless digital garbage in exchange for real cash from "investors"
- dymk 4y ago> yeeted ticker symbols presented prices for worthless securities > to bag holders to now-defrauded clients of the FTX website > fancy darkmode graphic design a slick, sort of professional looking website > and a screwball haircut and a screwball haircut
- oblio 4y agoThank you, translator of slang.
- bwi4 4y agoAs a bag holder, I often find myself attracted to dark mode websites, where I make my purchase decision based on how I feel about the CEO's haircut.
- akira2501 4y ago> Enron was fraud on difficult mode. The citizens of California would highly disagree with that. In those cases, all they had to do was put plants into "maintenance" mode. Literally, do nothing, and profit. This doesn't even begin to cover how they encouraged their employees to put their retirement into the business. Enron wasn't one fraud.. it was several.