Capitalism - Enron

(Reader Contribution to You have two cows...)

You have two cows. You sell three of them to your publicly listed company, using letters of credit opened by your brother-in-law at the bank, then execute a debt / equity swap with associated general offer so that you get all four cows back, with a tax deduction for keeping five cows. The milk rights of six cows are transferred via a Panamanian intermediary to a Cayman Islands company secretly owned by the majority shareholder, who sells the rights to all seven cows' milk back to the listed company. The annual report says that the company owns eight cows, with an option on one more. Meanwhile, the government buys your bull.


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		Chinese by Anonymous... muahaha on 9/16/2009 You have two cows - a male and female. The government takes the girl, as you are only allowed to hav(...)

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