As one of the largest 500 companies in the US, Enron had reported sales reached $101 billion in 2000, and also in year 2012, the share price of Enron climbed the peak to $90 dollars. Nevertheless, in such short time with some simple tips and complex tips, Enron plunged into a major scandal in the history, and very quickly, in December 11-2001, Enron 's stock price dropped to $1, a day before bankruptcy in February 12-2001. Enron filed for bankruptcy protection. With assets of $63.4 billion, this is the biggest bankruptcy in U.S history.
Many of Enron executives were convicted and sent to jail. Among them, two top leaders Jeffrey Skilling and Kenneth Lay became the hero from "a liar and cheat grand", was bombastic excess health status of the …show more content…
William Black had a reason for choosing the date April 1-2005, April Fool day- to release the book in order to elevate the irony, the paradox of a great story, but a very real joke. Fraud controls are often rooted in the people in power as high as the general director of colluding with others on the executive board; or the CEO of the company. Basically, they are the internal interest groups capable of manipulation in a bank or a banking group have common interests. William Black referred this group of people are Financial Superpredators. From that concept, he pointed out the bank forms gutted by their design impishly credits which today is called the Liar Loans. To legalize that Liar Loans, one must rig up a system. The book is structured in a way that controls of accounting fraud to overtake the function where monitoring and inspection. Finally, and most cruel fraud control group often lurks in the shadow of a certain economic policies and politicians or officials that shielded by the procedure known as "cloaking from above." There are two interesting comments when William Black referred to these loans lies. First, to organize and implement the plan gutted, the leader who is "brassy" capable of manipulating everyone around. Next, these groups are often staged fraudulent projects very quickly, the large and very large sums of money, withdraw money quickly and they often collude with other banks to create many waves with other Liar
Many of Enron executives were convicted and sent to jail. Among them, two top leaders Jeffrey Skilling and Kenneth Lay became the hero from "a liar and cheat grand", was bombastic excess health status of the …show more content…
William Black had a reason for choosing the date April 1-2005, April Fool day- to release the book in order to elevate the irony, the paradox of a great story, but a very real joke. Fraud controls are often rooted in the people in power as high as the general director of colluding with others on the executive board; or the CEO of the company. Basically, they are the internal interest groups capable of manipulation in a bank or a banking group have common interests. William Black referred this group of people are Financial Superpredators. From that concept, he pointed out the bank forms gutted by their design impishly credits which today is called the Liar Loans. To legalize that Liar Loans, one must rig up a system. The book is structured in a way that controls of accounting fraud to overtake the function where monitoring and inspection. Finally, and most cruel fraud control group often lurks in the shadow of a certain economic policies and politicians or officials that shielded by the procedure known as "cloaking from above." There are two interesting comments when William Black referred to these loans lies. First, to organize and implement the plan gutted, the leader who is "brassy" capable of manipulating everyone around. Next, these groups are often staged fraudulent projects very quickly, the large and very large sums of money, withdraw money quickly and they often collude with other banks to create many waves with other Liar