See today's
Wall Street Journal article (
here) about manipulating debt at ends of quarters to make debt "disappear." We've learned nothing.
Shameless plug: our latest Enron book (
here) explores just why we never learn from prior corporate malfeasance.
1 comment:
Nancy, Nice catch, and thanks for posting the link to this article. The manipulation of debt levels as reporting deadlines approach is the tactic at the heart of the Refco collapse, which resulted (among other things) in Mayer Brown partner Joseph Collins' being sentenced to seven years in prison for his role as Refco's corporate counsel.
Post a Comment