ENRON og íslensku gulldrengirnir

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Enron had created offshore entities, units which may be used for planning and avoidance of taxes, raising the profitability of a business. This provided ownership and management with full freedom of currency movement, and full anonymity that would enable the hiding losses that the company was taking.

These entities made Enron look more profitable than it actually was, and created a dangerous spiral in which each quarter, corporate officers would have to perform more and more contorted financial deception to create the illusion of billions in profits while the company was actually losing money.

This practice drove up their stock price to new levels, at which point the executives began to work on insider information and trade millions of dollars worth of Enron stock.

The executives and insiders at Enron knew about the offshore accounts that were hiding losses for the company; however the investors knew nothing of this.

Chief Financial Officer Andrew Fastow led the team which created the off-books companies, and manipulated the deals to provide himself, his family, and his friends with hundreds of millions of dollars in guaranteed revenue, at the expense of the corporation for which he worked and its stockholders.

Aðdragandi hrunsins rannsakaður

Athugasemdir

[Kjartan Pétur Sigurðsson, 16.10.2008 kl. 05:26]

Þarf ekki að fara að setja inn greiningu á íslenska efnahagsundrinu inn á Wikipedia og eki má gleyma að hafa öll réttu nöfn Ráðamanna með.