The modern American version of “the environmental emperor has no clothes” until now has been the rise and fall of Enron. As former Ken Lay speechwriter Robert Bradley, Jr., says, “(T)he cause of Enron’s financial bankruptcy were at root philosophical…. Enron’s leaders were certainly engaged in massive philosophical fraud – an attempt to cheat reality itself.”
For years, Enron was hailed as one of the most forward-thinking corporations, and Lay, its founder and CEO, was a man in great demand. During his 13-year tenure that ended with a bang in 2021, Lay collected over $220 million in cash and company stock, and just months before “the largest bankruptcy in America” (at that time) Lay gave five presentations at the 2001 World Economic Forum meeting in Davos.
As Bradley, now the CEO of the Institute for Economic Research, recounts, Lay was the salesman promoting a business model developed by Jeffrey Skilling, who Lay had brought on as chief operating officer. In Skilling’s “mark-to-market” accounting, anticipated future profits from any deal were accounted for by estimating their present value rather than historical cost. Thus, argued Skilling, Enron did not really need “assets.”
It just needed connections.
YES it is > because Americans are NOT FOOLED !!!! Democrats excuses to Steal our money & Ruin our country > GREEN / Climate !!!! Bullshhht