Enrongate: In Defense of Marxism
by justyouraveragecitizenEnrongate
By Mick Brooks
The collapse of Enron is the biggest crash in corporate history. In a matter of months the total share 'value' of energy firm Enron, the seventh biggest company in America, went from $80 billion to next to nothing. Thousands of workers are being made redundant. To add insult to injury, their pension plans were locked in to holdings of Enron shares, and are therefore worthless. Meanwhile Enron executives, aware of the coming shipwreck, sold $1 billion of their own holdings to outside suckers and were desperately shredding incriminating documents. At the same time they were siphoning off all the remaining assets through a vermicelli of holding companies fronted by Enron executives
