Supreme Court Will Hear Appeal of Enron's SkillingQuick reminder: my advice to regulators of financial markets and institutions:
By THE ASSOCIATED PRESS
Published: October 13, 2009
WASHINGTON (AP) -- The Supreme Court said Tuesday it will take up former Enron CEO Jeff Skilling's appeal of his convictions for his role in the collapse of the energy giant, accepting another high-profile challenge to a favorite tool of prosecutors in white-collar and public corruption cases.
Study the Enron collapse!I believe most of our current ills were fore-shadowed by Enron's deals - dependence on less-than-transparent derivatives, deliberate avoidance of rational 'risk-assessment', shaky 'independent' 3rd-party transactions...
The geniuses of Wall Street apparently studied Enron very carefully, figuring out how to "do an Enron" without going bankrupt. It almost worked.
Enron's scale was tiny: less than $10Bn.
The basic mechanisms seem to pervade the financial sector to this day.
Study Enron!
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