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January 25, 2008

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Cmon, Freude...Enron? They pulled bigger scams and hid them from investigators, the SEC, their auditors and bankers!

It's called "willfull ignorance" or "If I don't see it, it never happened"

They pulled bigger scams and hid them from investigators, the SEC, their auditors and bankers!
Hiding it from the SEC etc. is not the same as hiding it internally. Bet you a blog post there's more to this ...

I read somewhere that this blunder may have been what triggered the big European stock crash on the MLK holiday that prompted the Fed to lower the interest rates 3/4 of a point before the market opened on Tuesday.

The guy was just a nobody, too; really kept under the radar I guess...pretty embarrassing for Societe Generale.

Oh but they DID hide it internally!

Ken Lay knew nothing! Jeff Skilling knew nothing! Andy Fastow knew nothing!

How could anyone foresee that debacle???

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