Word: enronize
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...collapse of Enron should have been a trigger to those involved in business in America, the American government, and the American populace that there ought to be fundamental changes in the general practices of American industries, such as how liabilities and assets are calculated. It wasn’t—and those who have benefited from the Enron-led train of unscrupulous practices of the market—such as short-selling, betting against the market or hoping it will fail so that you can make money selling for high to buy at very low. or profiting from...
...unlike the risks at the poker table, where your losses are just yours, in the larger world, you can take down a lot of other people with you. "Organizational malfeasance in general depends on this kind of risk analysis," says Siler. "Look at a place like Enron. People took a lot of small chances and won, then took big chances and lost big." Indeed, Siler points out, during the recent financial crisis, an entire nation - Iceland - went bankrupt in a similar way, trusting high-risk, high-reward investments that quit paying...
...security we had until then rarely worried about. We waged war in Afghanistan that drags on and today is deadlier than ever. Then came our fiasco in Iraq. Don't forget the anthrax letters and later the Washington, D.C., snipers and the wave of Wall Street scandals highlighted by Enron and WorldCom. (See a photo-essay on 9/11 first responders...
...brought about by a lethal combination of irresponsible deregulation and accommodating monetary policies instituted by the Federal Reserve. Bankers and financial engineers had an unsupervised free-market free-for-all just as the increased complexity of financial products - e.g., derivatives - screamed out for greater regulation or at least supervision. Enron, for instance, was a bastard child of a deregulated utilities industry and a mind-bending financial alchemy...
...economy, which grew 8.9% in the third quarter, could pull the global economy out of recession, several skeptics were arguing the Middle Kingdom's performance was unsustainable - and even that it was mostly a mirage. Chief among these naysayers is billionaire hedge fund investor Jim Chanos, who famously sold Enron short in 2001 after concluding that the rosy reports and projections about the company were not based on facts. He has come to a similar conclusion about China, according to Politico.com, and is shorting the country just as he did Enron. (See pictures of the making of modern China...