[lit-ideas] What goats...mid-week laugh...
- From: Ursula Stange <Ursula@xxxxxxxxxx>
- To: lit-ideas@xxxxxxxxxxxxx
- Date: Wed, 22 Oct 2008 12:36:48 -0400
From an article sent by my nephew...
Considering economic models using goats gave me a much better
understanding of Enron venture capitalism:
/You have two goats. //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 goats back, with a tax exemption for five
goats. The milk rights of the six goats are transferred via an
intermediary to a Cayman Island Company secretly owned by the majority
shareholder who sells the rights to all seven goats back to your listed
company. The annual report says the company owns eight goats, with an
option on one more. You sell one goat to buy a new president of the
United States, leaving you with nine goats. No balance sheet is provided
with the release. The public then buys your bull.
/
/http://www.opednews.com/articles/What-Goats-by-Glenda-Moore-081012-171.html
/
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