[nukkad] Enronism

["D B AMIN" <>]

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Tip of the day:  The Green pigeon is the State Bird of Maharashtra
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New definition:

Capitalism: You have two cows. You sell one and buy a bull. Your herd
multiplies, and the economy grows. You sell them and retire on the
income.
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Enronism: You have two cows. You sell three of them to your publicly
listed company, using letters of credit opened by your 
brother-in-law at the bank, then execute a debt/equity swap with an associated general offer so that you get all four cows back, with a tax exemption for five  cows. The milk rights of the six cows are transferred via an intermediary to a Cayman Island company secretly owned by your CFO who sells the  rights to all seven cows back to your listed company. The annual report says the company owns eight cows, with an option on six more.

Now do you see why a company with $62 billion in assets is declaring
bankruptcy?



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