candycorn
Diamond Member
There was this company called Enron back in the late 1990's over in Houston. They were pretty much bulletproof. You couldn't go to Houston without hearing about some sort of festival they were sponsoring, program they were endorsing, or find a pie their fingers were not in (See Enron Field where the Astros play).
Well, as we know now, the profits supposedly being generated were largely done through accounting tricks and the house of cards fell quickly in late 2001. I always thought it had something to do with the psychology of the time but there was no doubt that Enron was no where near as profitable as it said it was.
Signs of the fall in 2001 were all around but connecting the dots before the collapse is always harder than after. One of the biggest "dots" was an April conference call with analysts where Enron CEO Jeff Skilling responded to intense questioning by calling the analyst an "asshole". You don't do that on a recorded conference call.
This reminds me of the threat the White House e-mailed to Washington Post reporter Bob Woodward. We should all be able to agree that Woodward is above reproach in terms of integrity if not always accuracy--such is the life of a reporter.
It seems to me that this may be the first sign of the classic second term malaise and misstep. I voted for President Obama and support a great many of his policies. Why his administration decided to hamstring itself in such a clumsy and frankly stupid methodology is bewildering. More troublesome is that it is totally out of character for this group and such an attack on Woodward of all people is more than enough reason for me to raise my eyebrows.
Well, as we know now, the profits supposedly being generated were largely done through accounting tricks and the house of cards fell quickly in late 2001. I always thought it had something to do with the psychology of the time but there was no doubt that Enron was no where near as profitable as it said it was.
Signs of the fall in 2001 were all around but connecting the dots before the collapse is always harder than after. One of the biggest "dots" was an April conference call with analysts where Enron CEO Jeff Skilling responded to intense questioning by calling the analyst an "asshole". You don't do that on a recorded conference call.
This reminds me of the threat the White House e-mailed to Washington Post reporter Bob Woodward. We should all be able to agree that Woodward is above reproach in terms of integrity if not always accuracy--such is the life of a reporter.
It seems to me that this may be the first sign of the classic second term malaise and misstep. I voted for President Obama and support a great many of his policies. Why his administration decided to hamstring itself in such a clumsy and frankly stupid methodology is bewildering. More troublesome is that it is totally out of character for this group and such an attack on Woodward of all people is more than enough reason for me to raise my eyebrows.