My great Arventure

Enron: The Smartest guys in the boardroom

I saw the new documentary about the Enron collapse today. It was really good and thought it did a good job of revealing alot of general information to people who probably aren't as familiar with the story. It's really amazing yet quite simple how they did it. But all it would have taken was for a a few people to look a little deeper and harder at the financial statements and ask the right questions. The only reason that Enron looked like they were making as much money as they said they did was simple accounting practices. What really struck me though was just how ruthless and scrupulous the main figure heads were. (Here is the preachy party) They really didn't care who they stepped on, who they screwed or how much they hurt them just as long they got their money. But I guess that's what greed drives you to do. For example, the California energy crisis was not an energy crisis at all. It was simply the Enron energy traders getting plant operators to shut down and then the traders would drive up the price. Ruthless!!! Anyways, I'd def. recommend the movie to anybody who is interested in trading, corp. accounting or just plain fraud :P

posted by Arvind @ 10:05 PM