these guys sure were smart. smart about who the real 'mark' was. including enron employees, SEC officials, customers, the entire state of California, and investors who fell for the constant wash of new investment ideas.
how do you sell futures in the weather ???? w.c. fields said it best, there's a sucker born every minute.
these guys were so smart they outsmarted themselves. they were so ingrained with their greed and evil schemes of fraud and theft, they lost sight of the truth and began believing their own lies, like a true psycho-sociopath.
the damage they wrought is incalculable in terms of reputations and lives ruined, retirements shattered and indeed lives lost from the MAN MADE power 'shortages' during fatal heat waves in California. the cold bloodedness of the enron traders making quips about 'aunt Millie' suffering without electricity to run the air conditioner shows the extent some people will go to make money.
'mark' to market. logging profits that haven't happened yet. apparently someone in the SEC didn't read the story about 'dont count your chickens before they hatch'.
the ONLY time people, the O-N-L-Y time you MAKE MONEY in the market is when you SELL the instrument and turn it into CASH. anything else is just wishes and dreams and fantasy on paper. numbers on PAPER. the enron gang cleverly worked around that axiom and look at all the people who fell for it and will in another 15 or 20 years when the lesson has been forgotten and the tendency towards greed again kicks in on a nice big scale.
how do you sell futures in the weather ???? w.c. fields said it best, there's a sucker born every minute.
these guys were so smart they outsmarted themselves. they were so ingrained with their greed and evil schemes of fraud and theft, they lost sight of the truth and began believing their own lies, like a true psycho-sociopath.
the damage they wrought is incalculable in terms of reputations and lives ruined, retirements shattered and indeed lives lost from the MAN MADE power 'shortages' during fatal heat waves in California. the cold bloodedness of the enron traders making quips about 'aunt Millie' suffering without electricity to run the air conditioner shows the extent some people will go to make money.
'mark' to market. logging profits that haven't happened yet. apparently someone in the SEC didn't read the story about 'dont count your chickens before they hatch'.
the ONLY time people, the O-N-L-Y time you MAKE MONEY in the market is when you SELL the instrument and turn it into CASH. anything else is just wishes and dreams and fantasy on paper. numbers on PAPER. the enron gang cleverly worked around that axiom and look at all the people who fell for it and will in another 15 or 20 years when the lesson has been forgotten and the tendency towards greed again kicks in on a nice big scale.