Today in the Financial Crisis: 01 OCT 1999 CFO magazine gives a 'CFO of the year' award to Enron's Andy Fastow. According to a Lehman senior VP, Fastow had invented a 'groundbreaking strategy.' This is one way of putting it.
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@The92ers A graph that confirms that creative accounting is always at its peak at the end of the economic cycle.
@The92ers Someone with a good understanding, can you please tell me what the strategy was? How did it appear at the time, to those who looked at it favorably?
@The92ers @zerohedge Well he wasn’t necessarily wrong….
@The92ers @zerohedge Strategy = accounting shenanigans
@The92ers @zerohedge Theft is always the most profitable option.