the CAMP ENRON Report

... gateway to the next Progressive Era?

Some say it's nothing but a train wreck ... roll in the big cranes, clear the track, see what the crew's been smoking. If I thought so, I'd not be writing this ... and if they thought so, they'd not be drumming so hard.

For a brief orientation, see this
Welcome to Camp Enron

Submit Feedback To:
RonKsFeedbag at aol

Camp Enron Archives
01/01/2002 - 02/01/2002 02/01/2002 - 03/01/2002 03/01/2002 - 04/01/2002 04/01/2002 - 05/01/2002 05/01/2002 - 06/01/2002 06/01/2002 - 07/01/2002 07/01/2002 - 08/01/2002 08/01/2002 - 09/01/2002 06/01/2003 - 07/01/2003

(2) All "major" articles of older material have now been imported, some with updates worth perusing. We'll keep it all on the main page for a while, will add a few loose pieces of history, will trim the main page and index the archives for convenience later.


free agent, loose cannon, pointy stick ... taking an imposing analytic toolkit out of the box, over the wall and into the street ... with callous disregard for accepted wisdom and standard English

reading the tea leaves from original angles, we've led with uncannily prescient takes on the federal surplus, the dotcom crash, the "Energy Crisis", the Afghan campaign, the federal deficit.

More where those came from ... stay tuned.

For brief orientation, see this
Welcome to CP

... gateway to the next Progressive Era?

For a brief orientation, see this
Welcome to Camp Enron

Many thanks to Tony Adragna and Will Vehrs, still shouting 'cross the Potomac at QuasiPundit. Early Camp Enron material can be found in QP's Dispatches department.
Wednesday, April 10, 2002

--- Paydirt! Enron Helped Other Firms Cook Books ---

David Barboza reports in today's NYT: Enron offered a combination of swaps and advisory services to help corporations create better results on paper ... the Enron way! This is BIG. Enron actually made its trademark financial chicanery a line of business per se ... and the paper trails will lead investigators to a number of very interesting arrangements.

One (rejected) pitch illustration titled "Reverse Pre-Pay (Earnings Capture)" reads in part "Pre-paid deal reduces average earnings recognized in GAAP ... By restructuring the deal, AT&T can recognize the full $5/year in earnings". That's $5 as in "all figures in millions", BTW.

Done up right, these deals would juice both parties' numbers without creating anything of value. Enron pitched and sold deals to be done with Enron, using their many securitized commodities (just ask Connecticut's trash-hauling authority) ... but once the new kid learned the new hustle, he could use it anywhere.

I'd guess first-generation Enronitis makes up a large share of current SEC inquiries. How contagious was it? How many cases of second- and third-generation Enronitis? And who were the facilitators and enablers?