Post subject: Enron: The Smartest Guys In The Room
Posted: Sun Apr 02, 2006 4:49 pm
Yeah Yeah Yeah
Joined: Sun Oct 17, 2004 3:39 am Posts: 4032
Watched this movie last night. Pretty good doc. One of the many cases involving these assholes is going on right now, with at least one more to follow. Anyone else see this movie. I knew a lot of the info before watching it, but the other stuff I gained kind of blew me away. Cant imagine why they were allowed to use the accounting system they did, I honestly dont remember even hearing about the system when I took business classes. The movie does have a slanted view, but then again its tough to take the other side with all the information out there.
Joined: Sat Oct 16, 2004 10:52 pm Posts: 1727 Location: Earth Gender: Male
Really good doc that breaks down what these clowns were up to in a very simply way. Definetly reccomend.
_________________ "The smart way to keep people passive and obedient is to strictly limit the spectrum of acceptable opinion, but allow very lively debate within that spectrum." -Noam Chomsky
Joined: Sun Oct 17, 2004 1:38 am Posts: 5575 Location: Sydney, NSW
Only good thing about this documentary is their liberal use of Tom Waits.
Oh and I got to stare at Bethany McLean's lovely figure.
By the way, tennisclay... mark-to-market accounting is nothing that new. Banks have been using it for years. They have to, because historical-cost accounting doesn't make sense for them. Enron had good reason to use mark-to-market, because most of their divisions were dealing with highly liquid assets that changed in value constantly. Mark-to-market makes all the sense in the world, it's just that you have to be sensible enough to charge your p/l when your asset prices take a hit too.
As I said in the N&D thread. Read the book the doc is based on, or Conspiracy of Fools if you want an equally fair, but thrilling account of what happened. You won't put either book down. I guarantee it.
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Jammer91 wrote:
If Soundgarden is perfectly fine with playing together with Tad Doyle on vocals, why the fuck is he wasting his life promoting the single worst album of all time? Holy shit, he has to be the stupidest motherfucker on earth.
Only good thing about this documentary is their liberal use of Tom Waits.
Oh and I got to stare at Bethany McLean's lovely figure.
By the way, tennisclay... mark-to-market accounting is nothing that new. Banks have been using it for years. They have to, because historical-cost accounting doesn't make sense for them. Enron had good reason to use mark-to-market, because most of their divisions were dealing with highly liquid assets that changed in value constantly. Mark-to-market makes all the sense in the world, it's just that you have to be sensible enough to charge your p/l when your asset prices take a hit too.
As I said in the N&D thread. Read the book the doc is based on, or Conspiracy of Fools if you want an equally fair, but thrilling account of what happened. You won't put either book down. I guarantee it.
Thank you. I enjoy your updates on the trial and all surrounding the scandal. I may have even learned about the M-M accounting, but dont remember it. I dont deal with really anything financial in my job, so I dont utilize a lot of things I learned.
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