An Octopus of Greed, The Enron Financial Web of Corruption »
Posted by: Xaos 1 year, 1 month agoThe Enron bankruptcy demonstrates that the U.S. financial reporting system is broke. Accountants have so comprised the integrity of their profession that there is little reason to believe any financial reports filed with the Securities and Exchange Commission
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Xaos1 year, 1 month ago
Enron was recklessly empowered by the Commodity Futures Trading Commission (CFTC), which issued an exemption for futures trading in energy derivatives. This was Enron's most lucrative business. Speculators, including Enron, used these financial instruments to drive the cost of wholesale electricity to astronomical levels.
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Xaos
Guess by now a few people are wondering who the heck I am. Lets see, raised in the country, a Christian, and an engineer and ...
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