Much of what Enron did – such as generating billions
in off-balance-sheet debt – was out in the
open. Many of the analysts knew full well that the
company’s earnings far outstripped the cash coming
in the door. The bankers and investment
bankers, who worked for the same firms as the
analysts, certainly understood what Enron was
doing; indeed, they MADE (Chief Financial
Officer, Andy) Fastow’s deals possible. The credit
rating agencies knew a lot. The business press,
which could have looked more closely at Enron’s
financial statements, couldn’t be bothered; the
media was utterly captivated by the company’s
transformation from stodgy pipeline to new
economy powerhouse. And of course there were
any number of Enron’s own employees who
could see for themselves how the company was
making its numbers. And yet, they all chose not
to make the logical leap, to see where it was inevitably
headed. Instead, they all chose to believe.’’
Much of what Enron did – such as generating billionsin off-balance-sheet debt – was out in theopen. Many of the analysts knew full well that thecompany’s earnings far outstripped the cash comingin the door. The bankers and investmentbankers, who worked for the same firms as theanalysts, certainly understood what Enron wasdoing; indeed, they MADE (Chief FinancialOfficer, Andy) Fastow’s deals possible. The creditrating agencies knew a lot. The business press,which could have looked more closely at Enron’sfinancial statements, couldn’t be bothered; themedia was utterly captivated by the company’stransformation from stodgy pipeline to neweconomy powerhouse. And of course there wereany number of Enron’s own employees whocould see for themselves how the company wasmaking its numbers. And yet, they all chose notto make the logical leap, to see where it was inevitablyheaded. Instead, they all chose to believe.’’
การแปล กรุณารอสักครู่..