Now we know the difference!
> On the differences between capitalism, communism and "Enronism":
> Capitalism: You have two cows. You sell one and buy a bull. Your herd
> multiplies and the economy grows. You sell them and retire on the income.
> Communism: You have two cows. Your neighbors help take care of them and
you
> all share the milk.
> "Enronism": You have two cows. You sell three of them to your publicly
> listed company, using letters of credit opened by your brother-in-law at
the
> bank, then execute a debt/equity swap with an associated general offer so
> you get all four cows back, with a tax exemption for five cows. The milk
> rights of the six cows are transferred via an intermediary to a Cayman
> Island company secretly owned by the majority shareholder, who sells the
> rights to all seven cows back to your listed company. You hire Arthur
> Andersen to revise your books. The annual report says the company owns
eight
> cows, with an option on one more.
>
>
>
>