Word: hid
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...became involved in a number of complicated business deals which hid Enron debt from its investors and benefited Fastow financially...
Enron's unraveling can be traced to investors' first whiff of "off-balance-sheet" partnerships that hid billions of dollars of the company's liabilities. By the time Enron crashed, it was primarily a trading firm. It had relatively few hard assets to cushion its fall when business faltered and hidden debts came due. The risks aren't nearly so great at asset-rich companies like Tyco and GE. But, as with Enron, seasoned analysts have trouble determining whence, exactly, they derive their profits...
Maybe you can only glimpse the soul of a company when it breaks open right before your eyes. But we know now, thanks to Watkins, that Enron hid billions of dollars in debts and operating losses inside private partnerships and dizzyingly complex accounting schemes that were intended to pump up the buzz about the company and support its inflated stock price. We also learned last week that executives at Andersen, the accounting giant that enabled Enron's every move, fretted about the arrangement but saw the chance to double their fees if they just kept their heads down...
...Bush sided with the company in refusing to back price caps on California energy, of which Enron was a major supplier. Larry Lindsey, Bush's top economic adviser and a former Enron consultant, has battled on free-market grounds to preserve the kind of overseas tax shelters that hid Enron's true financial condition for so long. And in August Lay's backing helped put his friend Patrick Wood at the head of the Federal Energy Regulatory Commission, replacing a chairman who had opposed Enron's deregulation timetable...
...Maybe you can only glimpse the soul of a company when it breaks open right before your eyes. But we know now, thanks to Watkins, that Enron hid billions of dollars in debts and operating losses inside private partnerships and dizzyingly complex accounting schemes that were intended to pump up the buzz about the company and support its inflated stock price. We also learned last week that executives at Andersen, the accounting giant that enabled Enron's every move, fretted about the arrangement but saw the chance to double their fees if they just kept their heads down...