The most prestigious law school admissions discussion board in the world.
|
 |
 
|
Anyone here old enough to remember the Enron thing in detail?
Poast new message in this thread
Date: August 11th, 2020 9:12 PM Author: Boyish pearl space When it was happening I was very young, so I like knew that this company named 'Enron' was in the news all the time, but nothing more than that. I wonder what it would have been like to be like 20 something and live through such a huge corporate scandal that was getting everyone's attention. (http://www.autoadmit.com/thread.php?thread_id=4602031&forum_id=2#40741394) |
 |
Date: August 11th, 2020 9:29 PM Author: Sooty galvanic gas station “So I, like, knew that this company” (http://www.autoadmit.com/thread.php?thread_id=4602031&forum_id=2#40741493) |
Date: August 11th, 2020 9:15 PM Author: Aggressive institution roast beef it had a lot of funny mediagenic personalities like jeff 'i'm FUCKING smart' skilling, compulsive chinese whoremonger lou pai, weird little rat-faced ken lay, etc. (http://www.autoadmit.com/thread.php?thread_id=4602031&forum_id=2#40741409) |
|
Date: August 11th, 2020 9:16 PM Author: Vibrant shimmering mental disorder yeah i was old enough but i dont remember it in great detail. watch the smartest guys in the room, youlld get there. all you need to know is about the asian guy who loves strippers, the chicago weatherman's brother who was cfo and ken lay (http://www.autoadmit.com/thread.php?thread_id=4602031&forum_id=2#40741416) |
|
Date: August 11th, 2020 9:21 PM Author: Useless racy stag film Smartest Guys In The Room is fantastic (http://www.autoadmit.com/thread.php?thread_id=4602031&forum_id=2#40741445) |
|
Date: August 11th, 2020 9:18 PM Author: spectacular shrine Why? (http://www.autoadmit.com/thread.php?thread_id=4602031&forum_id=2#40741422) |
|
Date: August 11th, 2020 9:20 PM Author: mind-boggling shaky library True story: after getting out of prison, Andy Fastow became a doc review monkey at a Houston lit boutique (http://www.autoadmit.com/thread.php?thread_id=4602031&forum_id=2#40741439) |
|
Date: August 11th, 2020 9:32 PM Author: Electric burgundy lettuce he went to Tufts, so about the outcome u'd expect (http://www.autoadmit.com/thread.php?thread_id=4602031&forum_id=2#40741501) |
|
Date: August 11th, 2020 9:51 PM Author: Shivering bbw That's pretty ironic given the Enron data set is what all the early e-discovery software companies used as test data. (http://www.autoadmit.com/thread.php?thread_id=4602031&forum_id=2#40741616) |
|
Date: August 11th, 2020 9:22 PM Author: Stirring ruddy idiot I'm old enough to remember the Arthur Andersen scandal (http://www.autoadmit.com/thread.php?thread_id=4602031&forum_id=2#40741449) |
|
Date: August 11th, 2020 9:24 PM Author: Useless racy stag film That was fucking bullshit (http://www.autoadmit.com/thread.php?thread_id=4602031&forum_id=2#40741460) |
|
Date: August 11th, 2020 9:26 PM Author: Stirring ruddy idiot Explain (http://www.autoadmit.com/thread.php?thread_id=4602031&forum_id=2#40741470) |
|
Date: August 11th, 2020 9:28 PM Author: mind-boggling shaky library AA was exonerated. Didn't matter bc they'd been out of business for years at that point. (http://www.autoadmit.com/thread.php?thread_id=4602031&forum_id=2#40741479) |
|
Date: August 11th, 2020 9:30 PM Author: Useless racy stag film Tens of thousands of accountants that had nothing to do with Enron got wrecked
For what purpose, exactly? |
|
Date: August 11th, 2020 10:33 PM Author: Bronze adulterous trailer park Guess who? Mueller's right hand man on the Obamagate scandal: Andrew Weissman. ++++++++
In a follow-up case in U.S. District Court, Weissmann also was successful at arguing that auditing firm Arthur Andersen LLP had covered up for Enron. In that case, which resulted in the destruction of Andersen, he convinced the district judge to instruct the jury that they could convict the firm regardless of whether its employees knew they were violating the law.[6] That ruling was later unanimously overturned by the Supreme Court in Arthur Andersen LLP v. United States, in which the court held that "the jury instructions failed to convey the requisite consciousness of wrongdoing."[7]
======
The DOJ destroyed the honest accounting firm, Andersen, and put tens of thousands of people out of work. The truly criminal accounting firm, KPMG, was then too big to attack. |
|
Date: August 11th, 2020 10:41 PM Author: Soul-stirring indian lodge (http://www.autoadmit.com/thread.php?thread_id=4602031&forum_id=2#40741905) |
|
Date: August 11th, 2020 11:04 PM Author: vivacious range coffee pot (http://www.autoadmit.com/thread.php?thread_id=4602031&forum_id=2#40742070) |
|
Date: August 11th, 2020 9:50 PM Author: Shivering bbw A decent portion of Arthur Anderson became Navigant, even use the same campus in Illinois for training. (http://www.autoadmit.com/thread.php?thread_id=4602031&forum_id=2#40741612) |
|
Date: August 11th, 2020 10:41 PM Author: Bronze adulterous trailer park Didn't most over move to Ernst & Young? Maybe a dozen or so partners moved to Navigant? (http://www.autoadmit.com/thread.php?thread_id=4602031&forum_id=2#40741900) |
|
Date: August 11th, 2020 9:28 PM Author: Sooty galvanic gas station Canary in the coal mine, in retrospect. (http://www.autoadmit.com/thread.php?thread_id=4602031&forum_id=2#40741485) |
|
Date: August 11th, 2020 9:52 PM Author: lascivious apoplectic locus (http://www.autoadmit.com/thread.php?thread_id=4602031&forum_id=2#40741618) |
|
Date: August 11th, 2020 9:52 PM Author: Boyish pearl space So I did some research after posting this thread. Here's a good tidbit: a BNP Paribas analyst downgraded the stock 4 months before the scandal broke. He only rated it neutral but his comments said to sell it. Anyway BNP Paribas fired him for the downgrade and continued defending their action long after the scandal broke. Does anyone know if they suffered any consequences for this? (http://www.autoadmit.com/thread.php?thread_id=4602031&forum_id=2#40741623) |
|
Date: August 11th, 2020 10:05 PM Author: Sooty galvanic gas station Lol (http://www.autoadmit.com/thread.php?thread_id=4602031&forum_id=2#40741702) |
|
Date: August 11th, 2020 10:20 PM Author: Vibrant shimmering mental disorder reminds me of journalism. all the fags who were pushing the iraq war got promotions eventually because they were wrong in step, but the people yelling about how it was a mistake got fired and never recovered. manufacturing consent. (http://www.autoadmit.com/thread.php?thread_id=4602031&forum_id=2#40741790) |
|
Date: August 11th, 2020 10:41 PM Author: swashbuckling carnelian ceo abode (http://www.autoadmit.com/thread.php?thread_id=4602031&forum_id=2#40741902) |
|
Date: August 11th, 2020 11:19 PM Author: Light Sickened Hall It's like being an Associate. As long as you leave BIGLAW in 4 years or less, none of your horrible mistakes will ever come back to haunt you. (http://www.autoadmit.com/thread.php?thread_id=4602031&forum_id=2#40742133) |
|
Date: August 11th, 2020 9:53 PM Author: thirsty locale i remember it very vividly on the ground as a "victim" family, but not the details.
my dad's 401k was wiped out by it. he got a notice in the mail from his provider with a quarterly statement that went from something like 250k to something like 5k in 1 quarter.
i never saw my dad look more defeated. |
|
Date: August 11th, 2020 9:54 PM Author: Boyish pearl space so he had like 90% of his money in one stock? (http://www.autoadmit.com/thread.php?thread_id=4602031&forum_id=2#40741634) |
|
Date: August 11th, 2020 9:57 PM Author: thirsty locale yup. here is what happened. he signed up for the company 401k when he was hired (edit: it must have been a little later than initial hire). he basically was told by the company guy "we're gonna put it all in energy yadda yadda because it's safe". he's a truck driver. he doesn't know anything except trust the guy in the suit. he keeps getting these statements for years and they keep going up. he doesn't understand the ups and downs. he doesn't even understand what he is looking at. i had to look in detail and put everything together like "holy shit this whole thing was basically in enron".
wiped out most of his coworkers since they all got the 401k as a new benefit at the same time. prior to that, they just put money into savings. |
|
Date: August 11th, 2020 9:58 PM Author: Boyish pearl space what kind of retards did your dad's company have managing the 401k? (http://www.autoadmit.com/thread.php?thread_id=4602031&forum_id=2#40741668) |
|
Date: August 11th, 2020 10:03 PM Author: thirsty locale i am not in the weeds since I was probably 22 or so at the time. i think it was basically an EE controlled 401k with no central pooling except with a match. when everyone signed up initially the field rep just told everyone "energy!". (http://www.autoadmit.com/thread.php?thread_id=4602031&forum_id=2#40741694) |
|
Date: August 11th, 2020 10:40 PM Author: ruby floppy party of the first part piazza Good lord. (http://www.autoadmit.com/thread.php?thread_id=4602031&forum_id=2#40741894) |
|
Date: August 11th, 2020 9:55 PM Author: Vibrant shimmering mental disorder lol how is that even possible in a 401k? wtf was he investing in (http://www.autoadmit.com/thread.php?thread_id=4602031&forum_id=2#40741644) |
|
Date: August 11th, 2020 9:57 PM Author: thirsty locale see above. (http://www.autoadmit.com/thread.php?thread_id=4602031&forum_id=2#40741663) |
|
Date: August 11th, 2020 9:58 PM Author: Vibrant shimmering mental disorder https://youtu.be/FSK0v0vTgXA (http://www.autoadmit.com/thread.php?thread_id=4602031&forum_id=2#40741670) |
|
Date: August 11th, 2020 10:03 PM Author: effete pervert menage remember when women from enron posed nude in playboy (http://www.autoadmit.com/thread.php?thread_id=4602031&forum_id=2#40741691) |
|
Date: August 11th, 2020 10:11 PM Author: Pink disturbing base i remember this (http://www.autoadmit.com/thread.php?thread_id=4602031&forum_id=2#40741730) |
|
Date: August 11th, 2020 10:19 PM Author: grizzly arousing therapy garrison I do. Knew several people who lost their jobs and had a friend whose dad killed himself. (http://www.autoadmit.com/thread.php?thread_id=4602031&forum_id=2#40741783) |
|
Date: August 11th, 2020 10:34 PM Author: Bronze adulterous trailer park What news org did the very best reporting on Enron?
You'd never guess. |
|
Date: August 12th, 2020 12:14 AM Author: Bronze adulterous trailer park the National Enquirer. they gaped the mainstream media on the story. (http://www.autoadmit.com/thread.php?thread_id=4602031&forum_id=2#40742360) |
|
Date: August 11th, 2020 11:03 PM Author: henna french chef fanboi I don't remember much. I think I was in college at the time. I do remember someone saying that they had set up an entirely fake "trading floor" full of people, not sure if that was true but it is a funny image. (http://www.autoadmit.com/thread.php?thread_id=4602031&forum_id=2#40742066) |
|
Date: August 11th, 2020 11:10 PM Author: Useless racy stag film They did all kinds of crazy shit with their accounting
They set up some bizarre broadband trading market (??????)
They did some 20 year deal with Blockbuster for some video-on-demand shit, and then on the back of a couple of trial runs in a couple of apartment buildings, booked like $110 million in profits |
|
Date: August 12th, 2020 12:07 AM Author: Aphrodisiac People Who Are Hurt Church I started big consulting and a friend had started at the same time at AA. Next thing I knew, he was outside my building along with his coworkers wearing We Are AA orange t-shirts. (http://www.autoadmit.com/thread.php?thread_id=4602031&forum_id=2#40742339) |