Wealth and ethics

Romaine 2022-01-15 08:01:02

Ingenuity can bring opportunities to make money, but it should be constrained within ethics and the system. Let California power plants stop generating electricity, causing energy shortages to raise electricity prices for profit. Looking at the stumbling old lady rescued from the blackout elevator and the panicked woman holding the baby, and then at the polite faces of the high-level Anran who claimed that everything had nothing to do with me, I couldn't help but feel angry. (Ps: The then governor of California hoped that the federal government would intervene in setting the maximum ceiling for electricity bills, but the Bush family, which is closely related to Enron, refused to intervene, insisted on deregulation, and insisted on a free market. Then, California ushered in a new governor-Schwarzenegger. I didn't expect it. The glorious life history of the inspirational model that I have been exposed to since childhood is so dirty and dark.) Accounting is a record of historical transactions and events, and Enron actually created the principle of "imaginary future value" to record future imaginary profits that are impossible to achieve, India The project has been abandoned and even recorded a huge benefit.

The root cause of fraud is corruption. The so-called executive officer Asian Lubai, whose huge office is often empty, obsessed with strippers, took away more than 200 million dollars and resigned, became a landlord, and lived freely in Hawaii. Each employee’s allotment discount incentive mechanism, and the cruel system of eliminating employees at the end of each year, has exceeded the positive effect of incentives. Everyone has become crazy, letting the stock price rise and rise regardless of risk. The CFO packaged the debt into an lvp fund, and actually attracted investment from Morgan Merrill Lynch and Citibank, and the analyst who questioned Enron was fired. Arthur Andersen Certified Public Accountants and Enron's lawyers and legal advisers receive large amounts of business income. The great common interests flatter everyone who should expose the problem. Before the stock price plummeted, high-level managers who were aware of the crisis resigned, resigned and sold shares, but the grassroots employees didn't know it. They invested all their retirement protection funds to Enron, and those who contributed their entire lives to Enron did not get anything in the end.

Those who dared to rush forward to burst the bubble are warriors. I admire the editor of Fortune and the internal accountant who dared to question Enron. Moreover, both of these are women. In China, such revelations are even more difficult.

No matter what career I am in, I hope that I will always maintain integrity. Under the suppression of interests, morality cannot be supreme, but at least it should not harm others and honestly reflect the truth to the public. In addition, never touch things that do not belong to you. Do not expect to be a moral model, but never be a moral villain.

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Extended Reading
  • Rebeca 2022-03-26 09:01:11

    After watching the documentary about the bankruptcy of Enron, I feel like there is no law. The consequences of deregulation of enterprises in a free economy are simply unimaginable. Entrepreneurs and large corporations do whatever they want in the market. The film describes the behavior of Enron executives in detail, and the loopholes in the entire industry regulatory system are undoubtedly exposed. But overall it doesn't feel full and deep enough.

  • Conrad 2022-04-21 09:03:02

    It's not dark enough, I feel that the documentaries of the past are not dug hard enough, leaving room for

Enron: The Smartest Guys in the Room quotes

  • Kenneth Lay: [Q&A session with employees] All right, we are down to questions. And I got a few up here.

    [reads question from the floor]

    Kenneth Lay: 'I would like to know if you are on crack, if so that would explain a lot. If not, you may want to start because it's going to be a long time before we trust you again.'

  • Jeffrey Skilling: Oh I can't help myself. You know what the difference between the state of California and Titanic? And this is being webcast, and I know I'm going to regret this - at least when the Titanic went down, the lights were on.