Enron - The Biggest Fraud in History

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In this video we take a look at the Enron story. At over $60 billion being scammed away from the public, they were the biggest fraud in history. Yes, even bigger than Theranos.
#enron #fraud #skilling #jeffrey
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Script by Fil Zivko
Sources:
www.cbsnews.com/news/ex-enron...
www.reuters.com/article/us-pe...
www.bloomberg.com/news/articl...
www.telegraph.co.uk/business/...
www.nytimes.com/2006/07/06/bu...
www.zerohedge.com/news/2019-0...
edition.cnn.com/2009/LIVING/wa...
www.latimes.com/archives/la-x...
Enron the smartest guys in the room (2005)
www.wsj.com/articles/ex-enron...
www.bloomberg.com/research/st...
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29 авг 2019

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Комментарии : 11 тыс.

@WACATX767882 2 года назад

Had a boss who went to work for Enron. He wanted me to join him. But Enron's policy was that you had to transfer 100% of all retirement into their retirement plan which was invested in Enron stock. I did not want to do this. I was very uncomfortable about this so I said no. Then this happened and a lot of people lost all of their retirement. One of the best decisions I ever made !!

@Narrator1 Год назад

Holy Hell. You, Sir, dodged a bullet.

@Valkod23 Год назад

You did the smart thing. Transferring all of your retirement to a new company's retirement plan, no matter how great it might seem, just sets off every red flag I have in my brain.

@MagnusAnand Год назад

You understood basics of risk management

@WinS392 Год назад

Good on you. For anyone reading... don't hang onto a lot of stock in the company you work for. If it goes down, not only do you get laid off, you lose your savings too.

@jesuslovesyou-mattsmith1502 Год назад

How would they know what your retirement balance looked like at your old job? It's none of their business anyway

@peterthepanda 4 года назад

The biggest scam in the world is RU-vid putting 3 to 4 ads in between videos.

@rohankumar-hb1tg 4 года назад

Peter the Panda 😂 yup agree

@Jimmy_Jones 4 года назад

RU-vid Vanced

@tzwacdastag8223 4 года назад

No, Enron: The biggest fraud in History. Theranos: Phew, At least I am not The Biggest Fraud In History

@LordGadwin 4 года назад

just get the addon adblock. its been years the last I seen an add for anything.

@omgturtlez9673 4 года назад

This is amazing content the least you can do is tolerate 4 5 sec ads in a 20 minute video.

@awildsylveon9896 Год назад

"He was motivated by two things, money and strippers" It's always the same with these guys

@johnaustin209 Год назад

Work hard, play(scam) hard.

@rickylow1655 Год назад

I thought I heard wrong, but no, it was strippers. 😂😂😂

@lovejoy3347 Год назад

He could have meant chicken strippers.

@loginavoidence12 Год назад

you say that like it's abnormal

@kentjensen4504 Год назад

Nah it's AD 70 first, then strippers, then money.

@vcom2327 Год назад

I worked for Arthur Andersen at this time. A 100 year old accounting company with an excellent reputation was brought down by a handful of unscrupulous AA people in Houston who cooked Enron's books. Causing 25,000 plus AA employees to lose their jobs. A shame.

@Septimus_ii Год назад

At least there were lots of changes to accounting standards to try and prevent it happening again

@amazinglife1068 Год назад

Arthur Anderson, a corporate definition of greed and corruption. Destroyed many lives.

@jacobsweet7327 Год назад

Yah I work at an accounting firm in Houston, and one of the partners there was actually an associate at AA in Houston at the time. He's actually one of the more diligent partners in the office. They always scrutinize people when they don't question management assertions enough. I talked with them a little about it, and it seems to me that it was mainly people at the top at the AA office that were the problem. The scandal breaking was a big shock to them (associates, and senior associates in general), and then was pretty quickly laid off due to the office closing. Obviously they're doing all right, after all they're a partner at a big firm, but they struggled for a year trying to find work because no firm wanted to touch them with a 10 foot poll. Point being its a shame that a few dozen people at the top of the firm (in the offices across the nation) screwed over so many people. Not just Enron but the firm's employees as well. Also correct me If I'm wrong (I was 4 when all this went down) but wasn't AA folding not just due to Enron, but also Healthsouth, and Worldcom. It was just all three happening in a year or so within each other that caused a lot of companies to lose faith in AA?

@KatzenjammerKid61 Год назад

Closing their eyes all the way to the bank. AA existed to validate customers expectations, not oversee their financials as they were supposed to. The company tried to serve two masters and it killed them. You can be an accounting firm, or you can be a consulting firm, you can't do both.

@marcmcandrews6 9 месяцев назад

My dad worked at Arthur too! He has crazy stories about those times. Mike McAndrews!

@samdan8291 4 года назад

Jeffrey Skilling out of prison early 2019 and starting up a new energy company backed by a former Enron executive, what a wonderful world

@electroncommerce 4 года назад

One hand washes the other.

@whyalwaysme2522 4 года назад

These peoples have no morals

@ImperativeGames 4 года назад

Wonders of capitalism built every day ;)

@mkuc6951 4 года назад

Seems legit

@Relevance4life 4 года назад

Almost everything he was convicted of is legal under a different circumstance. If it was a privately held company, it's not a crime, as long as shareholders tolerate it. It's nobody's business

@TheGuindo 2 года назад

Fun fact: Enron is the reason that publicly traded companies are now required to 1) make all their financial statements publicly available, and 2) submit to annual audits by independent auditors (not in-house auditors). The Sarbanes-Oxley Act was a direct result of the Enron collapse and you spend a _lot_ of time talking about it in accounting school nowadays.

@Mugiwaraayaa Год назад

I decided to watch this video after hearing about Enron in literally every economics class I’ve had but it was like everyone else knew about it except me 😵‍💫

@maryebert5897 Год назад

Sarbanes Oxley act is a JOKE! I turned my company in for potential violations and the FBI never called me back! Just goes to show you how corrupt our corruption is. And it is pretty corrupt.

@maryebert5897 Год назад

Also why was Linda Long Duke Energy’s CEO? Wasn’t she part of the Enron scandal from Arthur Anderson? Well how do you become a CEO from this fraudulent accounting firm?

@dennisflynn4097 Год назад

this will also go the way of the glass -steagall act and it will be business as usual

@TheGuindo Год назад

@Frozen Adept No. Why would it? GAAP is the same regardless of the organization you're accounting for. 🙃

@oldgysgt Год назад

A manager I knew at AT&T retired after over 30 years, took around $500,000.00 lump sum retirement, and then went to work at Enron. He was told that loyal Enron managers were expected to put their retirement funds in Enron stock, so he did, ALL of it. One year later Enron folded, and he lost ALL of his retirement money. Nice fellas those Enron upper management guys.

@757millionaire Год назад

Goshomighty

@Blank-lp4fz Год назад

Is he alright now?

@oldgysgt Год назад

@@Blank-lp4fz; I know he was relying on Social Security for a time, but my wife's health failed and I became her full time care giver. I lost track of him after that.

@amazinglife1068 Год назад

I bet he committed suicide afterwards. I have zero (0)sympathy for greedy bastards!

@bsteph5019 Год назад

damn, that's fucked up smh. I know it shouldn't, but it baffles me how people can literally have no type of moral compass, like aren't you rich enough already?! It's one thing to scam regular consumers (still not ok) but to steal from the very people keeping your company intact?! Just plain ruthless.

@daviddundas4140 Год назад

I remember reading the book about Enron, and the saddest thing was a small electrical company (think it was West Virginia oil and gas) were brought out by Enron, and some of the workers had been paying into their 401's for 40 yrs, all the W Virginia shares were converted to Enron shares and they lost everything through no fault of their own

@markweber1151 8 месяцев назад

That also happened to the Portland company. Very sad.

@WACATX767882 7 месяцев назад

I remember when that happened

@AYVYN 4 месяца назад

The best way to judge your company’s stock is by asking for a promotion, I was denied and it fell over 50% after a few months.

@shanejobesmathew4395 3 месяца назад

Do you mind sharing which book it was?

@user-jb5un4zv1f 3 месяца назад

@dumbasses_R_us 3 года назад

The only surprising thing about the Enron scandal was that people were held accountable and jailed for it.

@TheTravisTube 3 года назад

How is that surprising? There are countless examples of the SEC taking action against individuals and corporations...

@dumbasses_R_us 3 года назад

@@TheTravisTube true, but do you know how many bankers went to jail for causing the global financial crisis? It was one, just one and he didn't really do much. I believe the only reason people went to jail over the Enron scandal was because Bush and Cheney knew what was happening and and came down hard so no one looked at the real culprits. Also Bernie Madoff went to jail but what about the people who helped him engineer the fraud? There was literally an entire floor of the building it occurred in dedicated to it. None of them are in jail, in fact they're probably still ripping people off in other schemes. If you want to rob someone and get away with it use a pen, not a gun

@rajeshpandey2198 3 года назад

Well not really Yes they did get jail time But he still got money after paying his fines he got to keep the rest

@retpal2302 3 года назад

I agree, Highly doubt we will see that happen today.

@tonelocrian 3 года назад

Except for Ken Lay. He escaped & is still alive.

@uzaiyaro 3 года назад

Here's my favourite line from the movie about this. "It had taken Enron 16 years to go from $10 billion in assets to $65 billion in assets. It took them 24 days to go bankrupt."

@jackyjiang3943 3 года назад

Once they bring in the bobcat to help with shredding papers, you know it’s time to look for a new job.

@pdorism 3 года назад

Yeah well, some people got 10 years of very good salaries out of it

@thewhitefalcon8539 3 года назад

@@jackyjiang3943 Yeah, because they're stupid enough to think a bobcat can shred papers, and you don't want to work for someone that stupid.

@viccypress6292 3 года назад

@@jackyjiang3943 stolen comment

@zakbutz8226 3 года назад

@@viccypress6292 word for word lmao and it’s right below this comment hahah

@skyrangerbob Год назад

My retirement account took a $10k hit when Enron went down. It amazes me how easy it still is to commit fraud.

@rwberger6 Год назад

Because the government has little incentive to actually make serious and effective reform unless they were personally affected by it (like with Enron, a lot of politicians personally lost money on it which is why it wasn't allowed to slide.) The most you get otherwise is a dog and pony show where very little actually changes and congress uses it as an excuse to launder some tax payer money to themselves.

@SerMattzio Год назад

It always astonishes me in these cases how many people have this idea that "if the line on the stocks goes up, it's real." It's amazing how greed takes hold and people will just invent value out of nothing if it brings them wealth, despite knowing that it's insanity to do so.

@stevenhull5025 Год назад

a bit like those US dollars you have in your wallet. In reality they are worthless.

@terryheisler3636 11 месяцев назад

Lithium Americas Corporations is interesting. I kept reading China is it's largest producer. Which made me think China was rich in lithium. This May 9, 2022 article agrees that China is the largest producer but identifies that China gets most it's lithium from Australia. China's lithium company is called Ganfeng Lithium (GNENF). GNENF is currently the largest stock holder in Lithium Americas Corporation (LAC). THIS APPEARS TO BE GLOBAL MONEY LAUNDERING. This company started up in 2007 and still as of 5/9/22 "Both these projects are still under development. LAC is not currently producing lithium or earning revenue." Yet is worth billions. LAC's 2 non-money makers are in Thacker Pass, Nevada and another in Argentina. Now I haven't looked up LAC or the Argintina company (which name is conveniently left out of this article) but how much do you want to bet BlackRock and Vanguard are involved???) www.forbes.com/advisor/investing/best-lithium-stocks/

@notthatronjohnson1186 2 года назад

Warren Buffet was asked one time why he never invested in Enron. "I could never figure out how they made money" was his answer. The fact that anyone would want Jeff Skilling involved in their business tells me all I need to know to stay away.

@orboakin8074 Год назад

This is one reason I really respect Warren Buffet. he is a great investor but also the epitome of simplicity. I think he said he doesn't invest in tech because it is too complicated and this quote about he felt about Enron is further proof. Most times the best answers and solutions are the simplest ones and gut feelings shouldn't be quickly discounted.

@itsvmmc Год назад

He has said he only invests in stuff he understands

@jonathansykes4986 Год назад

@@orboakin8074 the great investor barely out performs the S&P 500.

@elvinkoay1393 Год назад

I feel like your attempt at discrediting him, because of his seemingly low returns. Shows your lack of understanding on why everyone values his opinion.

@jonathansykes4986 Год назад

@@elvinkoay1393 He can barely beat an unmanaged SP500 and got his start with family funds and connections. If Buffett was actually a midwestern bumpkin and made his fortune, I'd have more respect but the fact of the matter is he is literally a US Senator's Son.

@standavison328 3 года назад

I was in a power generation business group prior to my retirement. When the Enron guys were involved with a power purchase they came on very aggressively and confidently. It was clear that they always knew they were the smartest people on the room. My boss just refused to do business with them. He was criticized for it by some. Turns out he was right.

@Puzzoozoo 2 года назад

No matter how smart a person is in a room, there is always someone a bit smarter then them i.e. there is always a bigger fish.

@BlGDaddyRob 2 года назад

@@Puzzoozoo no, I mean its basically a fact that someone has to be the smartest - but they aren't normally loudmouthed assholes whining about regulations "holding them back."

@joshuapatrick682 2 года назад

@@Puzzoozoo intelligence is somewhat subjective, some people suck at analytical intelligence but have amazing emotional intelligence and can get by on masterfully manipulating those around them.

@joshuapatrick682 2 года назад

Sounds like they were projecting confidence and intelligence to make up for the complete lack of anything substantive. The only thing they were smart about was cooking books and manipulating relationships with banks and regulators.

@hobomike6935 2 года назад

@@Puzzoozoo Qui-gon Jinn :D

@meesc3556 Год назад

Reporter : How does Enron actually make money CEO: I don't know, talk to our accountants. How are you committing fraud and not even thinking of the most basic of coverups?

@sifridbassoon Год назад

I managed to dodge two bullets over my adult life. First was to not buy any Enron stock, and second (and more recently) not buy any crypto.

@Uchaydo Год назад

Are you going invest if crypto has a second wave ? Bc if that happens it’s going to be solidified

@mainely8007 Год назад

Smart people do not buy Cyrpto. People who think they are smart though do.

@jackli6592 Год назад

there always money to make even its bullets. u coulda got out before enron collapses and make million, or you could buy bitcoin at 10cent and make billions.

@cryptocorporal777 Год назад

Ignorant comment

@ProjectNemesis92 Год назад

@@cryptocorporal777 exactly 💯

@dr.quackenbacker5247 2 года назад

Ah, the good old days of the early 2000's. VHS tapes, lunchables and capri suns, and the FBI busting through your door cause your Dad had done some Enron stuff.

@YourUncle8501 2 года назад

Better times really

@hobomike6935 2 года назад

Very early 2000s were pleasant. You felt like the world was in bad shape, but could still be fixed because there were still some good people in the world Dang…. How far we’ve fallen

@KB-ke3fi 2 года назад

I watched the mass exodus from my downtown window....briefcases and boxes everywhere.

@turkicnomad5632 Год назад

@@hobomike6935 as a Muslim immigrant, after 9/11 and the induction of the patriot act, which was the quintessential canary in the coal mine, I enjoyed the early 2000s like it would end at any moment. Because it did.

@donaldjohnson2038 Год назад

Ask Roger Stone what that was like. For nothing.

@MaskHysteria 4 года назад

I, briefly, worked as a software developer for a subprime mortgage company in 2006. It was my first and only time working in subprime and I didn't understand the market going into it. When I found out my supervisor and his buddy, the chief applications architect, had previously worked for Enron I found another job as quickly as I could.

@lokeeb1486 4 года назад

🤣🤣👍

@jamesedwards3923 4 года назад

Best decison ever.

@liesliar2227 4 года назад

Damn the shock value

@mrtoad1408 3 года назад

@@williamwu9244 watch The Big Short

@SantoshKumar.budithi 3 года назад

whats the company name?

@PeterStanton Год назад

Thanks for making this video for us Millennials who heard about Enron on the news but were too young to understand what happened.

@GPS509 Год назад

From Kenny Boy of Enron To Elizabeth, Theranos Trevor Milton, Nikola 1 Sam Bankman Fried, FTX And Caroline Elisson. The conclusion is Having an idea and having connections

@SergyMilitaryRankings Год назад

Always has been

@siinxx7656 Год назад

Your list is like a 0.01% of all acts of fraud occurring daily. And yes, the rest 99.9% work in the same way.

@amazinglife1068 Год назад

Being white also helps. By the way, you forgot a few; Madoff, Rothstein, Robert Allen Stanford etc.

@evantambolang3052 Год назад

@@amazinglife1068 at least Madoff was imprisoned for life and died in prison

@riveness Год назад

To Elon Musk

@2nd3rd1st 4 года назад

12:26 Bush: Intervention in California will not solve anything. Also Bush: Intervening in Iraq will solve everything (that we made up).

@tomoluis_01 4 года назад

2nd3rd1st As a Californian, it’s true.

@TheSouthwestBoyz 4 года назад

It’s because they “had” dub-ya M Ds

@orusandornots1915 4 года назад

I was deployed twice. You know who sold the troops on that lie? The MSM. Then just like now, the MSM tells stories not facts. People act like it's a recent thing, the media being a pack of lying partisans, but no. It probably goes back far longer then we know. The press is supposed to be a check against the lies our government might want to tell us to further an agenda we the people might not agree with. Instead it turns out if the press likes your politics or your family then they just say whatever the hell you ask them to.

@JDWonders 4 года назад

Man, imagine if normal people could get away with that. "Help! My house is on fire!" Fire Department: "It's our belief that intervention will not solve anything."

@Tdisputations 4 года назад

Hindsight is 20/20. The Bush administration may not have been aware of the full extent of the problem.

@skeletontoes7692 3 года назад

"If I could go back and redo things, I wouldn't" probably the only honest words out of Skilling's gob

@tonelocrian 2 года назад

Skillings & 'honesty' don't even belong in the same paragraph

@carolinebrawn2171 2 года назад

I looked up this quote from him and it doesn't actually just cut off there. The whole quote is, “If I could go back and redo things, I would not, now have used the term that I used.” (Referring to calling someone an 'asshole,' I think.) Not implying that I support what he did, obviously. But the censorship is treacherous. Realizing that more and more these days. :)

@huepix 2 года назад

yeah, they would

@skeletontoes7692 2 года назад

@@carolinebrawn2171 thanks for clarifying that.

@kennethcurtis1856 2 года назад

Skilling is the brother of Tom Skilling, chief meteorologist at WGN TV in Chicago.

@UDONTCME111 Год назад

8:20 Did you catch that? Enron was a major part of the reason Blockbuster went under. That's the reason they were too late to the streaming game. Crazy!

@bonbonbonbons 10 месяцев назад

They were too late because they were too early.

@me0101001000 9 месяцев назад

When I was an undergrad, one of my accounting professors told us how he worked at Enron towards the start of his career. When talking about bad accounting practices in class, he sometimes brought up things he saw happen at Enron and why those kinds of practices are frowned upon, if not straight up illegal. And during office hours, if you asked him about it, he'll tell you so many shady stories down to the more minute details. If you ever meet someone who worked at these companies with scandalous stories, I'm sure they'll have stories to tell.

@thekiller7994 4 месяца назад

What illegal activities occurred during office hours?

@waltuhwhite9975 2 года назад

My dad was a consultant for Arthur Andersen back in the day, but absolutely DESPISED working there. It was one of the “big 5” accounting firms back in the day, and they just worked him to the ground. When he told his bosses that he was quitting, before everything went down, and was going to a smaller consulting firm, they laughed in his face. When the Enron stuff went down, and AA got shut down, they all went to him asking for a job. It wasn’t till years later that he’d even tell people he worked for Arthur Andersen! I was a young when it all happened, but I love hearing about it from this vid!

@p_nk7279 2 года назад

OMG! Ur a survivor - so is your dad! I worked for a couple of the Big Four and big Consulting firms… I think Enron was unique in its few baddies at the top who actually meant to do harm, but other firms did grueling stuff like the ‘Rank and Yank’ performance review process. Learning and history are fun!

@charlesmartiniii1405 2 года назад

Just entering the industry and all I hear is horror stories from the big 4

@dawood121derful 2 года назад

Lol, great story!

@joeyboedeker2047 2 года назад

I was working for an office furniture installation company that was working on an Arthur Anderson complex in tempe, AZ. the Arthur Anderson people were arrogant and rude. glad it crashed and burned.

@bitboi6541 Год назад

sorry to say your dad's a criminal doesn't matter if it wasn't on purpose or not he helped them he is a criminal

@WillNelson73 3 года назад

"We're trying to change the world" - that Enron slogan was also stated by Elizabeth Holmes of Theranos. If a business says that, run for the hills

@sergiisoshka9481 3 года назад

Apple never said it?

@DanksterPaws 3 года назад

@@sergiisoshka9481 Because Apple *did* change the world?

@sergiisoshka9481 3 года назад

Dankster big time

@jonathanwieringa8808 3 года назад

Hasn't musk said it too? But let's not talk about that, or you're fired.

@jayrider9240 3 года назад

Elon Musk also wants to change the world. 🤔

@KILLRAIN42 Год назад

I do have a theory. I've come to perceive our generation as the "party's over" generation. Since I was old enough to watch things in 2008 , albeit just barely at 16, I have watched things progressively get worse and worse and seen my generation and those after being more desperate with fewer prospects and a bleaker outlook. We watched the understood way the economy worked die in 2008 and saw our parents, grandparents, and the oldest of us made to pay the cost to kill it, and have since been made to play in its corpse all while being told that everything's fine even though you can just feel that it isn't. We've watched the world lose its mind in the last decade but everyone in charge who made sure to ruin our capacity to realistically handle things once they're gone tells us we're wrong. That kinda situation, where you're looking at getting away with millions or being taken care of in prison for the rest of your days by the government who's taken your predecessors ability to get ahead away from you while you weren't even old enough to be counted amongst them as people yet, why not shoot your shot? Your parents money and your future got spent saving the people who set everything up to fail, why should you play by those rules? Sorry for the doom and gloom but the deep dive into this topic I've done with this channel and others over the past year or two has really ruined my outlook on things these days. At this point I'm just happy I make just enough to afford my house for as long as I can, until someone finds out a way to make sure I can't have that either. The only sensible option I've found is to get as far from this madness as possible and be as self sufficient as possible before they try and take that too.

@legalcoffee5315 Год назад

Back then fraud was a big deal, people went to prison and lost their money and careers - it was scandalous - now it seems that it’s just part of doing business - SBF (FTX) and his cohorts happily continue living their lives like “oopsies - sorry everyone - we lost a bunch of money, we’re just kids after all - oh well, we’ll try better next time”

@swesleyc7 Год назад

Sbf was just charged and being extradited to the US

@albertp.3893 Год назад

Sometimes* they lost their money and their careers but RARELY did these fraudsters go to jail because the regulatory bodies were gutted by hardcore free market lobbyists and politicians who were busy chasing profits.

@AndrewBarsky Год назад

You can rip off the poor as it’s a cost of doing business. Try to rip off the rich?

@Jordan-Ramses Год назад

SBF just scammed a bunch of rich idiots. I don't see the problem. Who would trust a vegan?

@jenniferclark9842 Год назад

@@swesleyc7 Now he’s free on bond (his parents posted their house as collateral), and his associates plead guilty and are going to spill at his trial.

@nougat7891 4 года назад

Their logo looks like E-corp from Mr Robot...

@bobjoe8131 4 года назад

Seems like the Director of Mr Robot was inspired by Enron.

@nougat7891 4 года назад

@@bobjoe8131 Yeah that would make a lot of sense

@austinjorgensen5158 4 года назад

Enron was the inspiration for Evil Corp.

@mvj6619 4 года назад

✌✌✌✌

@3398halofreak 4 года назад

thats what its supose to look like in mr. robot.

@retropunk24 4 года назад

"If you have a company and it can't explain in one sentence....what it does...it's illegal." - Lewis Black

@minecraftia7626 3 года назад

Describe Amazon.

@s.p.2494 3 года назад

@@minecraftia7626 online sales ?

@borisjohnson9741 3 года назад

Goran Marjev online market place, with competitive prices and shipping

@m_a_s6069 3 года назад

@@s.p.2494 Well, that is a horrible description for Amazon. Also, Amazon has physical stores now. Would you say Tesla is an online sales company, too?

@Nothing_._Here 3 года назад

@@m_a_s6069 Tesla is not a sales company, It's a brand and vehicular manufacturer. As for Amazon. It is a technological company operating in several nations that specializes in e-commerce and shipping.

@bradleymcwilliams6348 Год назад

Rumor is SBF watched this a couple of years ago and said: "Oh yeah?"

@garcia83viz Год назад

Great channel! I remember the Enron thing .. I was a junior in HS, and kinda laughed at it.. a year later was 9/11... A few years later I was in the 2007 recession as a college grad.. . History is history. The Greeks said no civilization stays on top forever...

@caseymichel1113 2 года назад

It’s amazing how little jail time these corporate thieves do yet a corner street weed dealer can get put away for life. It’s truly unbelievable

@felicitatumfortunae Год назад

The US legal system is a joke

@cherry316316 Год назад

Capitalism at its best. For every street weed dealer, the jail and all its investors make money from tax dollars. More subscription members they have, more money they make and unlike Netflix those poor dealers cannot unsubscribe unless you have money to cancel subscription fee. 😥

@lukelang7781 Год назад

In what's states is there still life sentences on weed? Unless your referring to the 3rd strike laws

@noxious4630 Год назад

@@lukelang7781 Texas.

@iamthelaw69 Год назад

It helps if your skin is white.

@myfavoritecolorisrage Год назад

Ironically, in my second semester in college, we had an Enron board member come to class to speak for the day about the future of business. I don't recall who it was, (its been a few moons since then) but this was still about 6 years before their collapse. I recall he wore a brown business suit which he opened up to reveal an Enron t-shirt underneath. I remember he seemed to spend more time talking about his shirt being an earlier logo than the final one, and joked how it would be valuable one day. He was just a fast talking, positive, and excitable fellow. And obviously he had more wealth in the bank than everyone in that room combined and multipled by 100. He also talked about how great the company was and invited everyone to apply. And I'm sure folks did follow that advice. There is a term for cult recruitment, its called love-bombing. You literally have so many people giving you attention, you fall for the cult's message. Enron engaged in what I'd call positive-bombing. They were so excited and smooth...so positive and upbeat. Banks couldn't wait to throw money at them. Enron execs would have been massive RU-vid sensations if it existed back then. Oh what was the class you ask? Business Law and Ethics!!!!!

@OrangeDurito Год назад

Well talk about the irony and cognitive dissonance that follows.

@peggyremos Год назад

"Fast talking excitable and positive." Always walkway.

@stardust0075 Год назад

Interesting.

@jonnyc429 Год назад

I love these sorts of stories. Must feel funny looking back and thinking all of the things mentioned in this video were going on but, at the time, nobody would have known

@PrincessSharifa434 Год назад

This is totally the thesis of a NYT best-seller (akin to a Malcolm Gladwell-type of book). You should consider it!

@Bynggo 3 месяца назад

Just discovered Coldfusiontv. Congratulations on a great coverage. It’s great to hear an Australian accent and an unbiased coverage. Thank you. G’day from Brisbane.

@issacmba7671 11 месяцев назад

Great story. You should do a story on Chesapeake energy. It was once a high flying company, until illegal activity was investigated. Then the CEO committed apparent suicide. The company survived but later filed for bankruptcy. But it’s still in business today after restructuring

@samwise1790 6 месяцев назад

So in Enron, actually, in a sense. EOG resources is just enrons physical oil and gas production arm which was spun off of the company (I'll give you one guess what 'EOG' stands for, although, funnily, that abbreviation actually doesnt mean anything, legally). Worth north of 70 billion today, one of the largest north American shale drillers.

@zac6832 4 года назад

You only get "caught" if someone doesn't get their cut.

@devanshkamdar8244 4 года назад

Yeah, important lesson. They've portrayed it well in War Dogs.

@keith5801 4 года назад

Exactly

@hermosaflor10 4 года назад

Exactly play the game or get played

@theorex8621 4 года назад

🤣🤣🤣🤣

@Itried20takennames 4 года назад

Or the whole market tanks, or reporters get wind of a story, or the general public starts protesting, or another company gets caught doing the same trick, or a disgruntled fired employee decides to get revenge, or a million other things as well. All scams fail, except for absolute miracles making them true

@bluwasabi7635 2 года назад

I was a kid at the time this went down, but I recall the owner of a small restaurant my family frequented saying that their electricity bill had risen to $5000 a month. It closed after several months of this. My understanding is that those who overpaid for electricity during this time were never reimbursed.

@CoolioTheMonkey Год назад

That’s absurd this company caused so much harm

@kevinblatter2369 Год назад

@@CoolioTheMonkey I was one of those Californians paying outrageous electric bills. I could never understand that if California was electricity surplus why all of a sudden electricity went through the roof. I later heard that Skilling had a favorite joke, "What's the difference between California and the Titanic? - the Titanic had it's lights on when it was going down." What an arrogant asshole.

@loginavoidence12 Год назад

i was a teenager during that time. i remember my family's electric bill being $600 a month, and this was over 20 years ago. more than likely happened to that restaurant.

@OpticLureProductions Год назад

Great job with this video. The amount of info and the clarity in which is was presented along with the pacing is incredible. As someone who has attempted similar things I learned a lot watching your work. In 20 mins you explained a huge scandal ive never understood in a very entertaining video. Great job again....im so impressed.

@Slugbunny 2 года назад

What I'm learning from these videos is that when something seems too smart, too complex - too hard to understand or replicate - beware. Same with figures bigger than life.

@john_blackthorne 2 года назад

As Aldo Raine said: "Long story short, if something's too good to be true, it ain't". So true

@Mr_Bones. 2 года назад

“The entire cryptocurrency market disliked your comment” Followed by “The entire NFT market just blocked you for saying that”.

@scoremxcom 2 года назад

If you can't explain it to a six year old, you don't understand it yourself.

@SaturnineXTS 2 года назад

@@john_blackthorne the thing is, in that movie it actually was exactly that lol

@plasmicats2000 2 года назад

@@scoremxcom Basically his logic lol

@philc.9280 3 года назад

I actually met and befriended an older engineer that had his own engineering firm for many years. He told me the story on how his company partnered with Enron. He spend several million dollars on expanding his business and long story short was never paid what was due. When Enron fell so did his company along with many others that depended on Enron.

@evinchester7820 2 года назад

They owed AT&T MILLIONS. And when AT&T tried to get Enron to pay, Enron got in their face. So when Enron went belly up, AT&T tried to make up the loss from it's clients. They tried that with us. And we told their to their faces that Enron owed you $100 Million when they went belly up. We paid out bills on time and if they didn't like that, there were other phone companies out there. AT&T backed off.

@Tom-jk3hy Год назад

You make your bed and you sleep in it !!

@martinalther6661 Год назад

Great vid about a very fascinating saga. Fun fact: Skilling’s new business basically went nowhere and was declared “Inactive” late last year. He’s basically nobody now.

@logvoid1559 Год назад

"died of a heart attack before his sentencing" = he lives in a sunny place right now sitting on his pile of money

@TheAschwittek 3 года назад

Its amazing how children are taught not to lie, when you're an adult, its almost expected...

@notmenotme614 3 года назад

I was thinking the exact same thing yesterday when I was in a supermarket. Some young toddler walked past me, all happy, friendly and inquisitive. Shame when people get older they turn into selfish assholes that screw other people over.

@TheNefastor 3 года назад

The thinking is : don't lie until you're good at it.

@MB-sj2yu 3 года назад

@@TheNefastor I know a 4 year old who’s a masterful manipulator and lair

@MB-sj2yu 3 года назад

Children are tought not to lie to us that’s it but when u want your child to lie when it’s convient for you they will lie for u

@cassino9399 3 года назад

We should teach kids to lie .. but not to their loved ones and people weaker then them.

@termile510 3 года назад

So that’s where the EvilCorp logo came from...

@mikem4162 3 года назад

I was thinking the same thing...it had looked so familiar in the show.

@TheMockingjay74 3 года назад

Mmhmm

@yungfabio420 3 года назад

first thing i thought

@silentassassins47 3 года назад

Haha! Came here for that

@anwiseru9064 3 года назад

had to google it and sure enough baby

@tdolz 8 месяцев назад

Enronism: 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 an associated general offer so that you get all four cows back, with a tax exemption for five cows. The milk rights of the six cows are transferred via an intermediary to a Cayman Island company secretly owned by your CFO who sells the rights to all seven cows back to your listed company. The annual report says the company owns eight cows, with an option on six more.

@laurasmith9407 6 месяцев назад

You have such a soothing voice, I listen while I’m working, lowers my stress level. Thanks!!

@jasonl7937 3 года назад

Once they bring in the bobcat to help with shredding papers, you know it’s time to look for a new job.

@Sergiuss555 3 года назад

*you know it was time to look for a new job a year ago.

@MrSp0iler 3 года назад

no death sentence no order

@virtualtools_3021 3 года назад

@@taqiyyaconcarne6908 yep, nothing to see here, uh huh *covertly shreds trump's pardon list*

@crosscategory 3 года назад

Apparently, accounting teachers love this case

@aadvani22 3 года назад

Can confirm

@ningningwonderpets4773 3 года назад

This is the company that we always talked about in our financial management subject

@FalconFlyer75 3 года назад

pretty much anyone who teaches business loves this case

@AldoScotia 3 года назад

Something similar is going to happen with crypto currency

@damienduff7471 3 года назад

@@AldoScotia why’s that my friend?

@stefangabor5985 9 месяцев назад

I cannot believe that people are missing the hole point. The last statement by the CFO at the end should worry every single one of us. The old saying “You don’t hold it you don’t own it” seems to prevail once more. Whatever they promise you, you cannot simply make gold out of thin air.

@alfonsopena4421 Год назад

FTX surpassed the amount of money scammed.

@Palaelogus 4 года назад

The most distressing part of this story is just how intertwined with politics it is.

@pretzelstick320 3 года назад

And even more distressing is how common it is.

@Palaelogus 3 года назад

@@pretzelstick320 I'd say it's really not that common for such a big and prominent company to have that kind of personal relationship to a specific political dynasty (The Bushes) and so blatantly influence politics in such an overt way as in the California recall election. I mean, it's such an obvious corporate attack on an entire state, and of course, a Democratic stronghold. The fact that the whole company was just a huge scam just makes it even more tragic. Obviously I agree big companies in the US exert a lot of behind the scenes influence on politics, but in this case it's just so out in the open and clear and so directly tied to the Bush family and the Republican Party.

@samuelspencer5047 3 года назад

@@vincentgray870offer more details on your central banking recommendation, thanks

@None-zc5vg 3 года назад

@@pretzelstick320 It's not so much 'common' as 'de rigeur'

@freedapeeple4049 3 года назад

Of course it is. You didn't think "government for the people, by the people" was a real thing, did you? Never has been, never will be.

@adalwolf12 3 года назад

15:26 ... He paid fines with money he stole... So can I just rob a bank, go to jail, then pay a fraction of what I stole and keep the rest?

@Pax_Veritas 3 года назад

ya pretty much. You could even be the driver, rat on your friends, plant some cash on them, steal the rest and get a short sentence or none at all. Walk away with most of the cash and none of the jail time. Or you could just get a degree, work for Goldman Sachs, steal stuff in a way that makes parents proud and friends jealous. Third option is be happy as a common man

@chaptap8376 3 года назад

Clearly somebody doesn’t know how the economy works. “The common man” by that definition can be anything from a middle class halfwit to a hobo who can’t keep a job to save his life.

@Pax_Veritas 3 года назад

@@chaptap8376 shutup ya pleb

@leovang3425 3 года назад

@@Pax_Veritas 1st option works but snitches get stiches and someone is gonna want your ass on a silver plater.

@kiuk_kiks 3 года назад

Fines are for the poor. Imagine if you a parking ticket costs $10 but the parking fine costs $1. They’re basically saying that you should park however you want and never pay up.

@mmb811 8 месяцев назад

Not anymore FTX Fraud BLOWS this one OUT THE WATER

@furuzon12 4 года назад

Elizabeth Holmes' father was a VP for Enron. Lol.

@peterd788 4 года назад

Thank God she broke the cycle and grew up to be an honest, straight down the line leader of a company that changed the face of blood testing to the benefit of us all. Her voice oozes trust and her kind eyes reflect the beauty of her humanity.

@jujunita12345 4 года назад

@@peterd788 lmaoo

@hmartinspliff 4 года назад

@@peterd788 Sarcasm level over 9000!

@lro001 4 года назад

Peter D Savage comment, it needs to be a standalone.

@strangerdaysss 4 года назад

i wonder how no one caught that

@AnalystManIssac 2 года назад

For everyone who is curious if Enron would not have been found out. They still would have gone bankrupt. The reason is because the debt never actually went away so eventually creditors would’ve wanted their money when the loans were due and since they did not really have the money this would’ve happened anyway

@pogtuber5146 Год назад

True, but during that time the executives at the top would have been living the dream for much longer than they ever deserved. This way, they went to jail and/or shot themselves years earlier.

@ronelz999 Год назад

If all their business investments were successful would they have gone under? ie the gas one in india.

@Ronin11111111 Год назад

@@ronelz999 Honestly? I think yes. All that would've changed is they'd have pushed things EVEN FURTHER, far beyond any reason.

@MindBlowerWTF 5 месяцев назад

they would probably fund the debt with their stock or borrow more money against their stock and cover it that way?

@Chris-qc6mx Год назад

SBF/FTX: "Hold my beer"

@javaman7199 Год назад

"Enron - The Biggest Fraud in History" FTX - hold my beer.

@amazinglife1068 Год назад

That was before Bernie Madoff dropped his bomb.

@pauline3815 Год назад

@@amazinglife1068 yep I think we can say Madoff was even worse…

@Pparker99 4 года назад

My mom, RIP, lost many tens of thousands of dollars at the hands of these f'in crooks. I think our judicial system is totally broken. Ken Lay had a home in Boca Raton, FL filled with millions in art - because in Florida, your home can't be taken, so you fill it up with valuable assets. My mom, and the millions of other stockholders that lost fortunes, should have gotten every penny from these bastards. They should have been penniless.

@barbatvs8959 4 года назад

The US of AIDS rewards criminals with free stuff at taxpayers' expense. I hate the US, so I left it. :-) Nukes won't rain on me.

@dvlarry 4 года назад

These a holes need to be shot, not jailed.

@boreddude3508 4 года назад

Diversity in your stock portfolio is always the answer

@hellatze 4 года назад

blame stupidity first.

@Pparker99 4 года назад

@@hellatze FU you idiot. Did you forget that this was the largest swindle in history, and they were falsifying data to stockholders and investors? Of course not. You would have to know how to read. And you realize that the Chaiman committed suicide - right? You do know that top level people went to prison - right dumb shit. Boy are you ignorant if you don't know the history of

@matthewkagan6921 4 года назад

In my mind I am trying to picture how those employees felt when they got laid off. They must have looked back at all those 18 hour days, and lamented time they lost, and the sacrifice to their health. Those years they lived in fear of being rated a 5. All those times they invested that hard earned money into 401k. To give so much of your life to a company with the hope of having stability and to retire obe day, and in just one day is all gone.

@ralphpal 4 года назад

like now

@campkira 4 года назад

most of them come to work and do nothing all day anyhow.. so is it surpising?

@icvetz 4 года назад

It baffles me that in America those responsible only serve 5-12 years lmao. Skilling served 12. How is that even possible? People do much longer for less damaging crimes.

@kensurrency2564 4 года назад

icvetz Financial crimes are in a different category than peasant crimes. And he probably served in a country club prison too.

@bhoqeem1975 4 года назад

@@icvetz Money & influence. That's how.

@NK-iw6rq Год назад

Love your videos Dagogo ! This one was awesome.

@Robbo1966 Год назад

Great video, this should be shared widely. To expose these excuses for human beings, regrettably this will probably happen again

@plunder1956 3 года назад

I once played a very small part in building an exhibition set for Enron. It was held on the week the scandal was unfolding in London. These super rich millionaire execs were full of fun, but by the last day were busted & jobless. It was a weird situation.

@mobilegameclips5628 2 года назад

Of all the things I doubt on the internet… I think this is authentic and honestly that’s an awesome life experience. Seeing people so high brought so low is a very grounding experience.

@jsteganius6969 2 года назад

Good. Greedy bastards.

@sarahberkner Год назад

Sounds similar to when events were shut down in March 2020 due to Covid. I was working at an event that ended on the first day even though it was sunny and there was no visible threat, it was weird.

@Daniel-nt5gh Год назад

And yet neocons still insisting that no regulation at all is he best possible way to go.

@Prettyfunny40 3 года назад

When I was in school Enron came to recruit. All of their executives came across as extremely arrogant and cocky. They seemed high on their own hype. They claimed to pick the best of the best: smart, self starters and risk takers to work in their company. Unfortunately not all that shines is gold. In this case, as it turned out, underneath they were just a big scam.

@hobomike6935 2 года назад

"What would it be like?....to have everything, and then to lose it? would it have been better to never have had it at all?" -Michael Morton

@jasonu3741 2 года назад

Same they came to my highschool in Canada for our advanced business admin course this was sept of 2000.

@R0BY0NEKAN0BY Год назад

Ftx is like: “…hold my beer…”

@wolfthemandalorian3328 Год назад

FTX says hold my beer.

@redzoneoffical5418 4 года назад

That genius asian man cashed out just at the right time

@arc46789 4 года назад

Still a fraud

@S0L4RFlare 4 года назад

He did the maths...

@DoctorCyan 4 года назад

God Himself I don’t know how I feel about that...

@Kris108s 4 года назад

I feel its more about networking. It is no surprise that the "big guys" always have easier time getting away. Like they somehow already know when the shit will hit the fan.

@WiddlyScuds2909 4 года назад

@@dissturbbed oh look kids! A real life dickhead!

@alypialpha2712 Год назад

What sickens me the most out of all of this was that Enron used California’s energy to extort money from businesses. I could only imagine how frustrating it would be to not be able to rely on your electricity.

@grottorabbit Год назад

"Hold my beer!" - Sam Bankman-Fried

@elizaforrester9440 10 месяцев назад

Imagine trading the weather "I'll buy raindrops at £12 a drop"

@epicnhoj5900 4 года назад

12:25 "George W Bush refused to step in, saying that his administration believed that intervention would not solve anything" HAHAHAHAHAHAHAHAHAHA

@Ludak021 4 года назад

well the man could barley read let alone count, what did people expect him to do? More cocaine?

@liesliar2227 4 года назад

Bush be like: Intervention? On a company? How about Iraqi invasion for dat oil?

@roamingdrifter5265 4 года назад

LOL, the irony.

@jordan5253 4 года назад

ikr its just to good literally an actual movie

@b.m.2738 4 года назад

Don't mind me... Just filling up my off shore back accounts....

@looooop5989 2 года назад

it's just sad to see that every time a big company does fraud or collapses its the normal people who get affected the most

@staydismantling9354 2 года назад

just like wars. fuck the system

@MrJamberee Год назад

Wait until this Pfizer vaccine fraud unravels. It will make Enron look like child’s play.

@ShamileII Год назад

What a great video! So well done and researched!

@danilecashin4126 7 месяцев назад

Bally total fitness was the enron of the fitness industry in 90s. I worked there and met some of the shadiest people that ive ever met in my life.

@FixedFace 4 года назад

“they were working on a streaming service with blockbuster” wait, what?

@Redbird-dh7mu 4 года назад

Ok, basically, Blockbuster was competing with Netflix, they wanted to blow Netflix out of the water with streaming movies to your home like a good 6 years before it became decent. However, not only was the technology not really ready, Enron’s bankruptcy more or less killed any hope for this project to work.

@eddiew2325 4 года назад

Redbird7311 am I the only one who actually likes netflix

@vengefulavenger1510 4 года назад

Ricardo Montanía hey buddy calm down i hate netflix

@asmodeusasteroth7137 4 года назад

@@RicardoMontania easy there snapper Calm down Netflix sux and everyone knows

@johncate9541 4 года назад

The technology wasn't good enough to make it happen at the time. They weren't the only ones who tried to cash in on streaming before it was technologically possible. Look up "Pixelon" sometime. They tried to claim they could do it as early as 1999.

@regiirecords8829 4 года назад

I'd love to see an Enron movie in the style of "Wolf of Wall Street"- with dirt bike riding and a cameo from George W. Bush in his coke boy days.

@FinnishCarGuys 4 года назад

This, with a highly satisfying "alternate reality ending" by Tarantino.

@maythesciencebewithyou 4 года назад

Simon Pegg would make a great Jeffrey Skilling

@camerontaylor7471 4 года назад

REGII RECORDS are you serious? How is that entertaining? That’s why these people do this... so they can be in the news and on tv and talked about when there dead... all while the zombies watch the spectacle... your just feeding into the entire system of HARM

@eddixon2015 4 года назад

REGII RECORDS lmao, I’ll write you a treatment for that if you want

@illuminocalypse5210 4 года назад

Hell yeah - I'd even have a title for it. I'd call "The Smartest Guys in the Room" (a sardonic title, of course). It's taken from part of the title of a documentary about Enron that was made shortly after the scandal called "Enron: the Smartest Guys in the Room".

@konradnicholasnel262 9 месяцев назад

Love this channel and this vid is used in my Masters in Finance course, that's wild!

@Productionandmixing Год назад

Super interesting stuff as always. Background music sometimes too loud tho. Thanks for all your great material!

@LWWM 3 года назад

Funny thing: Jeff Skilling has a brother Tom who is a beloved meteorologist here is Chicago. These two couldn't be more opposite!!!

@TheCrazierz 3 года назад

Or so you think...

@winternow2242 3 года назад

Does he get to work on his own private chopper?

@jerrycallo 3 года назад

Wait, wasn't Enron trading the weather at one point. I'm alleging a connection.

@sympathy4thedevil88 3 года назад

Holy shit! I live in chicago and never realized the connection. BTW Tom had gastric bypass a year ago and lost almost a much weight as enron lost financially

@vanessadotson8067 2 года назад

Born and raised in Chicago for 46y and my favorite news channel is WGN and when I heard his name I immediately thought of the weather guy but I didn't make the connection until I read your comment wow bc he is a old loveable dork and I hope he's nothing like his brother

@zxKAOS1 3 года назад

Skillings is out and at it again. Sheesh. You'd think they'd have some kind of Financial Offender Registry or something, like they do with sex offenders.

@likemysnopp 3 года назад

I think they do. Here most are on a list for 10 years after their sentence is up. And now days, due to some people understanding our laws, anybody can google your name and find out if you are a criminal (or well, if you have been caught that is..). This includes driving too fast etc so you need to pay like 12 bucks to know what z person did.

@eliastalks7411 3 года назад

Average person can be barred from applying for a job in the financial sector for having bad credit, let alone fraud. Meanwhile, CEOs can do fraud and just return to post when they get out of jail? Modern society is not free or equal.

@user-se7wf9dv6r 2 года назад

I heard that he's found Christ and will donate all his earnings to Mother Theresa's foundation in Calcutta...so please all you naysayers give the guy another chance! /S

@azynkron 2 года назад

In more developed countries he would be prohibited from owning or doing business for about 10 years on top of the jail sentence.

@azynkron 2 года назад

Involved in another pyramid scheme then.. nice.

@Outright_Mike Год назад

Enron - The biggest fraud in history FTX: Hold my beer

@lesflynn4455 Год назад

Thanks for explaining this scandal. I remember the brouhaha, but never understood how the money came from nowhere. ,

@mackenzie9712 4 года назад

I NOW UNDERSTAND THE REFERENCE IN THE BEE MOVIE WHEN THEY SAID “HONRON”

@mghq-mobilegamerzhq2533 4 года назад

Wow you just made me realise that!

@kyratompsett4409 3 года назад

I'm seriously watching all of these to fill in random references I've heard

@jaydmorales23 3 года назад

Fun With Duck and Jane (the new one) is about Enron

@EKNice 3 года назад

🤣🤣🤣

@kylewitte8747 3 года назад

My aunt worked at Enron in the UK, (Even though she is American) After all of corruption she was one of the final employees and was put in charge of trying to get Enron out of bankruptcy. She tells me so many stories about her time there and how bad it really was.

@Saifullah.Q 2 года назад

evidence please

@jbdbibbaerman8071 2 года назад

She should write about it, honestly seems super interesting

@Pomme843 2 года назад

This would be very interesting to hear about for many people. She could write a blog about it, doesn't even have to be that long :)

@jayz4evr 2 года назад

Wow what a marvelous story

@hobomike6935 2 года назад

Interesting if it’s true, but this kinda feels like an r/thathappened comment

@ultraali453 Год назад

Thank you so much for making this. I hope we can all learn form this and practice due diligence before sticking our neck out for a company or entity. If everyone does this, then we can minimize exploitation in this world.

@virginiamoss7045 Год назад

Nice thought, but that's not how humans work. It's a fantasy dream.

@vanesslifeygo Год назад

Professors will rant and rant about Enron yet none of them explained what the actual problem was, unlike this video.

@Anthsytar 3 года назад

That "social credit score" the CEO pushed reminds me of something similar tried in Orange, a telecomms company in France after it was privatised. Executives were ranked according to the profit and revenues they gave to the company. However, in France it is very hard to actually fire someone for no reason (and if it's found out that you fired someone wrongly, they can sue for plenty of damage), and therefore they used other tricks to push them out, including depriving them of meaningful work, moving them across the country, refusing to listen to their reports, etc. It ended up with a wave of suicides and the CEO of Orange at the time is now facing criminal charges.

@udittlamba 2 года назад

same thing they do in japan

@God-ch8lq 2 года назад

@@udittlamba afaik its more of a cultural thing there, as they are workaholics so ofc they'd use this method

@ajantsmith6139 4 года назад

Selling weather as a commodity? Honestly I'm so impressed by these guys I feel like robbing my own house.

@solomon6202 4 года назад

Lol

@catloverkitten10 4 года назад

It’s called engineering the weather. Look up the patents. If you can engineer a deluge you can sell futures on umbrellas.

@violinhunter2 4 года назад

It happens every day - it's called insurance fraud.....

@braddodesza1381 4 года назад

You actually could rob your own house and, if you do it right, get away with it ...

@HotBeeBumble 4 года назад

😂😂😂😂

@stevemc01 4 месяца назад

"How the aspirations and hopes of one man led to a Republican immigrant bodybuilder movie star becoming the governor of California" -- the best spin/summary someone suggested on the worst fraud in US history

@tenthousanddays2103 Год назад

FTX... Hold my beer.

@rtwice93555 4 года назад

Wow. Enron nearly bankrupted the utility i work for. It was at that time California deregulated the electric utilities meaning they could not generate their own power they sell and must purchase it through other suppliers. Enter Enron. Enron was selling electricity for nearly 10 times what the utilities were generating it for. Nearly bankrupted all of California utilities. While I am only a mechanic for the utility, it nearly cost all of us our jobs.

@Roshan_420 4 года назад

Glad that it didn’t cost your job

@Roughrideyy45 4 года назад

Luckily they didn’t make you lose your job

@ABandG 4 года назад

It’s crazy how I can’t see how a government could let that happen but then it’s the government who allowed it to happen

@camerontaylor7471 4 года назад

ABandG because there is no government genius! It’s a big gigantic fat lie! You really think they care about us? They believe we are nothing but stupid selfish greedy walking bacteria pit monkeys, and their job is to prove it! They want to play god on earth! It’s literally all just for show, they like to see how insane and despicable they can be and get away with it, while we still beg and plead for the system because we can’t imagine a reality without money! They want to make it so terrible that we go to the streets and scream and beg and fight for the system all because we can’t make our own food? Or have no local communities to support each other for FREE? Humanity has dug its own grave... if you can’t see evil when it’s right in front of you then your gone... if you can’t see goodness when it’s right in front of you then your gone... if you can’t comprehend the bigger picture that you are a slave not an employee or a citizen then your gone...

@Dunkaroos248 4 года назад

Fuck pg&e

@petermoore7796 4 года назад

The selfish gene is one of the most misunderstood books. While Dawkins mentions our 'selfish gene' he goes on to say that humans are unique in that we are better suited when working together as opposed to also being selfish

@EmVeeBeen 4 года назад

He definitely didn't read the biggest footnote which is the book. Smh

@eddixon2015 4 года назад

Peter Moore I mean given the people in this story, that seems totally realistic

@samcavanagh7993 4 года назад

@@eddixon2015 the point is that humans always progress more when we work together vs oppose eachother, which history shows to be true.

@eddixon2015 4 года назад

Sam Cavanagh I’m with you. I just think that it’s pretty stupid that a guy who built company ethos around a book didn’t understand what the book was saying.

@samcavanagh7993 4 года назад

@@eddixon2015 yeah true. I don't think he was very smart

@slayr399 Год назад

I've got a book about the Enron scandal. The diagrams showing how the money/assets/debt was moved about alone are fascinating.

@colddogs Месяц назад

elon musk: “hold my ketamine.”

@MarijnLangejan 3 года назад

"It was his administration to believe, that intervention, wouldn't solve anything." As he intervened in Iraqi politics and invaded.

@frostywasp1743 3 года назад

This shit I so funny bruh

@TheTravisTube 3 года назад

Obama preferred Syria 🇸🇾

@KaloKross 3 года назад

@@TheTravisTube obama prefers remote drone strikes on civilians

@joeyjamison5772 2 года назад

My late sister used to live in suburban Houston. She told me that virtually everyone in that area was affected one way or another by the Enron collapse.

@derekjay.s 2 года назад

Same thing over here in california. Black outs, rent skyrocketing, companys being bought out and people losing their jobs. All because of these greedy fucking cowards

@ardeladimwit Год назад

the hardest hit were US publishers. Enron held over the majority of US newsprint and pulp, so that wiped out most of US newspapers and publishing. Overnight US lost over 50% of it's newspapers.

@willisknapick4405 8 месяцев назад

So many clown shows since Enron I forgot about them. Now we got SBF with FTX preceded by the blonde sociopath Holmes and Theranos. Who's next?

@jonathancaverly6477 Год назад

Sam Bankman-Fried "Hold my beer"

@bill7305 4 года назад

I never knew they were trading weather. It's even more interesting if you know Tom Skilling, a TV meteorologist for WGN news is Jeffrey Skillings brother.

@dissturbbed 4 года назад

and they say Tom is spectacular in his predictions

@Kni0002 4 года назад

I'll trade one cloud for one cyclone pliz

@diannemaloney5501 4 года назад

"One reporter would soon start asking questions..." It only takes one person to make a huge difference, to stop a huge machine, to end a huge wrong.

@goliathsteinbeisser3547 3 года назад

Provided that there is rule of law and working institutions. That is why, despite all the complaining, democracy is so damn important.

@dlwatib 3 года назад

Enron wouldn't be caught today because journalism is dead in the USA.

@Bustermachine 3 года назад

@@dlwatib They would actually have ended up getting caught as their maneuvers gradually ended up with Enron divesting itself of its actual energy assets. So, people would notice when the power went out and just never came back on. I mentioned in another comment that Enron is fascinating because all of these people should have known where the game was eventually going to end. They just thought they could outrunning the day when the bill would come due.