Enron Chief Says His Sale of Stock Was to Pay Loans

NYT ^ | January 21, 2002 | RICHARD A. OPPEL Jr.

[conserv13]

Isn't that supposed to happen when you lose lots of money?

Yeah, but they didn't 'officially' lose money. They never had a bad quarter until it was discovered that were hiding their loses. They were cheating and stealing, and the tax laws helped.
I have always been for a flat tax, now I think it may actually happen. Get rid of the tax lawyers and tax accountants, make it harder for people to cheat and steal.

[RobbyS]

Re: I would treat Lay as I would have treated the Savings and Loan guys: hang'em high!

[RobbyS]

Probably they would simply move their money out of the country and do their tricks out of sight.

[arete]

So he was borrowing real money and paying it back using fake (Enron stock) money. No matter how you look at it, this guy was a con man. The company itself was doing the same thing. They would borrow money and then pay it back in Enron stock. Wow! Just like printing your own currency isn't it? It's all about fraud and how the management looted the company.

Richard W.

[codeword]

Re: I would treat Lay as I would have treated the Savings and Loan guys: hang'em high!

How about sending them to Gitmo? :)