I have recently begun reading the true story of the rise and fall of Enron. The book is Conspiracy of Fools: A True Story by Kurt Eichenwald. It is fascinating so far, so I thought I’d post here about it every so often. You’ll be able to find the posts under the Enron category, and I’ll start all of them with “Book:”, just so you can find them easily.
My first comment…
The book talks about what I perceive to be the extreme arrogance of many involved with Enron. At the beginning, there was a problem with one division. Management believed that the head of the division was stealing significant sums of money, so they sent in the auditors. The auditors were told that part of the money went for a severance payout to an employee who was terminated.
The employee’s name was supposedly M. Yass.
There was never such an employee. You figure out the joke. Wasn’t the head of that division clever?