[stryker]

The way Boortz explains it, Enron bought energy from suppliers and sold it to consumers and became the sixth largest energy company doing so. This begs the question of how Enron lost all that money in such a simple series of transactions, if we are to believe this post. So far I don't see a problem with the Bush administration, but I can hardly herald this post as a clear and convincing explanation as to what has transpired.

[jackbill]

This begs the question of how Enron lost all that money in such a simple series of transactions

Don't feel too bad. If Arthur Andersen couldn't figure it out, why should we? But then, maybe Andersen did figure it out and went along with it.

Seriously, this one is going to be very difficult to understand, even when it is figured out. Somehow, Enron was able to run up very large debt, but they apparently hid that debt through subsidiary "partnerships", the existence of which they were able to hide.

You can't know how glad I am that my son left Arthur Andersen about five years ago. I don't think that company will be around a year from now. And some in the company may just be behind bars.

[Ragtime Cowgirl]

This is the Boortz condensed version. Check out one of the other many FR Enron threads for more details. This isn't a Freep thread, but I think it explains a little about the Calper/Chewco divestiture that somehow escaped the notice of the accountants back in the mid 90's and, when discovered, changed the bottom line a lot. Do you think more than a handful of journalists or pols know what they're talking about here? It's a sham, IMHO, and if not traitorous, it's cowardly behavior during war time when our troops depend on a focused effort fighting real enemies in the real world who really want us dead. Our enemies want us divided. Daschle and the DNC/press are giving aid and comfort to the enemy.
Auditor, Enron trade blame, Houston Chronicle, Dec. 13, '01.