Wall Street_ financial swindlers haunt

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					Wall Street, financial swindlers haunt
4, Wall Street, financial swindlers haunt

Financial executives on Wall Street generally first dressed up as a
"model student", then with his partner
"collective deception." Enron was the Americans as
"unsinkable aircraft carrier" in it before bankruptcy,
the accounting giant, "Arthur Andersen" as it is false
accounts, before the destruction of trouble weighing one ton of
accounting information. There's an old man who called Madoff,
former chairman of Nasdaq, but also come up with a big shaking, fraud 50
billion U.S. dollars, the Wall Street from discredited.

This often man-made large capital bubble divorced from reality, it is no
way people. At that time, the young father, George HW Bush George W. Bush
at the time when the president is using this way to make a pot of gold.
For this reason the United States Securities and Exchange Commission
launched an investigation on Bush. However, to rule the people appointed
by President Bush, this man was once Bush's personal lawyer.
Bush, of course innocent and clean and white, and later even became a
U.S. president.

In 2001, the seventh largest U.S. company Enron Corporation (Enron)
bankruptcy, when asked to strengthen supervision of speech countless
lessons learned. Enron was accused of the crime, in the current financial
crisis, almost completely reproduce. Then implicated in the Chase,
Morgan, Merrill Lynch, Citigroup, Bank of America and other financial
institutions, did not learn the lessons from Enron, to strengthen
prevention, but intensified in playing "money begets
money" game, eventually leading to financial crisis.

Enron was founded in 1958, started as a business energy company. By 1985,
Enron's market capitalization reached 10 billion U.S. dollars, 16
years later, in August 2000, Enron's stock price reached 90
dollars, the market value of nearly 70 billion U.S. dollars. In the same
year, Enron was the U.S. "Fortune" magazine as the
seventh U.S. 500, 500 16. Enron at the time, control 20% of U.S.
electricity and natural gas trading, known as the "unsinkable
aircraft carrier", "business Tit anic."
However, by 2001, Enron's stock fell 30 cents per share, at the
end of bankruptcy. The United States was the largest corporate

Enron founder and chairman Kenneth Lay (Kenneth Lay) has been an advocate
of free market economy. In 1985, the Reagan presidency, the U.S.
government to the principles of free market economy, liberalization of
energy control, allowing the energy price fluctuations, from Enron to
show their talents. By 1992, Enron has become North America's
largest buyers and sellers of natural gas. Enron's rapid rise to
an important reason is that the U.S. government to allow Enron to develop
its own energy prices. The right hands of ordinary people, perhaps only
in the costs and profits Gunda up to do a little hands and feet, however,
Enron began using this right crazy money.
One way to sell energy company in the future. As Enron has energy
pricing, even a loss of energy now, it can also make a future plan to
make money, go to market. To this end, Enron continued mergers and
acquisitions of small and medium energy enterprises, not whether the
profitability of these enterprises, as long as the expansion of the
scale, you can expand the level of fictitious profits. Since then, Enron
has become the virtual economy out of a typical real economy. For
example, Enron power plant built in India, in theory, an increase of
future benefits has a large, such a concept would lead to Enron's
stock price up. But, in fact, Enron set energy prices, the Indians simply
can not afford, the result of Enron's power plant in India, a
loss of 10 billion dollars. However, Enron insisted that India's
economic development trend is good, the future must be able to make
money. This is a hypothetical profit, according to common sense, the
future does not mean making money now making money, and now a loss should
bear the responsibility. However, as long as Enron's stock price
on the concept of benefit, Enron will continue to manufacture them.

Enron is another means of making money is driving up stock prices, but
also constantly issuing stock. It is expanding through mergers and
acquisitions side of the scale of future profits expected to expand,
while increased dividends, to attract more funds, as direct sales of
rodents, waiting endless off the assembly line to join, the sooner more
money to join. This is a self-designed digital games, Wall Street The
only thing, and the real economy at all. Every effort and means (fraud do
not worry) to ensure the stock price up, encouraging people to come up
with all of the savings (including pensions), mortgage of all valuable
items into cash, to buy Enron stock. As long as the stock has been
rising, everything is OK, as long as there is a greater range of direct
sales, Enron will be able to draw the best future. Enron employees, the
income is mainly stock, they sell the stock at all times cash, a 30 -year-
old living on the retirement of the affluent, but stock up every day, who
is willing to sell?

No one doubts it all. Enron has the energy pricing power, no matter how
the current real benefits, can use the future price, draw a big tasty
pie, and then sell the future. Enron CEO Sijie Lin claimed that the
pricing is a "hypothetical future value accounting
principles", you can create untold wealth. If the energy sector
capacity, lack of momentum, Enron also through mergers and acquisitions,
adoption of the new economy, new concepts into other areas. In other
words, theoretically, he could field a few hundred years all have to earn
all the profits in hand today. But think about it, today the descendants
of the money earned is gone, future generations how to do? Obviously,
this is a game can not be sustained.

So is Enron executives do not understand economy? Ph.D. in economics,
pastor of future generations Enron chairman Kenneth Lay, the company has
always advertised himself and the moral image. Enron's CEO during
the hurricane advance Sijie Lin graduated from the Harvard Business
School, since that extremely smart, he believed that a name of
"selfish genes" of the book. The book's author
believes that human history is the strong want to spread their genes,
continues, the characteristics of the gene is selfish and greedy. In
Sijie Lin seems that only money is the fundamental driving force of