Chapter 1509 The Whole World Is Shocked

Max wants to retire. If it weren't for the huge deal at hand, he really has plans to take a back seat. The more you know, the less confident you will be in the world. Staying on a company farm may be a good choice.

Even though they are all a group of retired old guys, you don't have a considerable number of soldiers, so you don't have to think about it. If you can survive until retirement and still be active, you can just figure it out yourself.

An energy company with a market value of nearly 100 billion, or the largest energy company in the United States. The financial reports they provided to shareholders were actually fictitious.

Damn it, if you reimburse me for a few more invoices that you don’t know about, it’s already a treason.

What is it now?

The performance is actually fake!

Junk, that’s what the rating agency just gave it. In William White's opinion, this thing is actually comparable to the Earthquake Bureau. You rely on guessing before something happens, and you rely on blowing after it happens.

Alas, if you can't give early warning, what's the use of your rating agency?

Looking at the stock price staying below US$0.3, William White couldn't help but feel a little emotional. In this week, he has thoroughly seen what it means to turn one's hands into clouds and turn one's hands into rain.

A week ago, Citigroup and Morgan Stanley were still giving this guy blood transfusions. How long has it been and why is it all fake?

What? You are also victims, and we have nothing to lose from Enron's fraud.

You can say whatever you want, it’s like seeing a ghost if someone believes it. Obviously, you are aware of the risks, so you pass on these crises as soon as possible.

If you are an individual, this is understandable. Your money is all your own. How to maximize your benefits is of course the only option.

But Citigroup and Morgan Stanley are different, or they have their own money, but they don’t have many road teams.

"Tens of billions are gone, Warren, don't tell me what you just knew. It will make me doubt my IQ."

Well, before he even said a few words, Buffett was choked up. Of course he had suspicions for a long time, but it's none of my business. Who knows what's at stake here?

"William, you know, I am not interested in projects that are beyond common sense.

If something goes wrong, it will definitely turn out to be a monster. Didn’t you also vote for it? It seems that there was a small wave of short selling. "

"Tch, that was the position in the first half of the year, and it didn't cost much. Well, now it looks very good, and it can be written off without spending any money. This is really an unexpected surprise."

Fuck, Buffett secretly raised his middle finger. He had no idea about William White's integrity. Forgetting that there is such a short sale, can you still have some face?

The money is not much, only more than 30 million. Well, it shouldn't be intentional, otherwise it must be hundreds of millions. How come this lucky bastard can encounter all kinds of good things.

"What do you think about this matter? It's very important." There was no time to argue with this guy. Greenspan was still waiting for news. Buffett decided to go straight in and test the guy's reaction.

"We will become the laughing stock of the whole world. Bond prices will rise and stocks will fall. What else? Giving up on short selling may be the worst decision in my life."

Buffett smiled bitterly, what can he say, social responsibility, stop being funny, at least wipe the blood from the corner of your mouth before talking about anything else.

After all, everyone is afraid that the game will break down. The economic downturn is acceptable, but if it collapses completely, it will actually be difficult for everyone. What we are talking about now is not about making money, but how to get the economy back on its original track.

Of course, if you pay, you will get something. There is no such thing as free labor here. Regarding the rescue of the market, we can reach a consensus on this point. As for how to deal with the aftermath and how to distribute the benefits, this naturally needs to be discussed again. There is no way that there will be any results if we talk about it once or twice.

Giants like Buffett and William White are feeling uneasy, so there is no need to say how panicked small and medium-sized investors should be.

Bought Enron stock?

Just stay calm, it doesn't really mean much whether it's for sale or not.

What can you do with thirty cents?

It's better to put it in the account. There will definitely be no way to do it financially, but legal proceedings may not be possible. It goes without saying that Enron was the first to bear the brunt, but this guy probably couldn't hold on. If it went bankrupt, nothing would be left.

The rating agencies must be responsible, at least for misleading investors.

Then what? No one knows that Enron will not be the first, nor will it be the last.

Damn it, who audited this financial report?

"Terminate the cooperation. At the very least, Arthur Andersen is unreliable. This is already a consensus." Regarding Andersen, William White's feelings are very complicated.

Do you think this guy is at fault?

In fact, there is, but you have to say how big it is. In fact, there is really no such thing. Enron's method of fraud was through a bunch of affiliated companies. Not to mention how clever it is, it's really hard for you to figure it out for a while.

Of course, there must be something wrong with this company. There is no doubt about it. If you can’t even understand this, how can you say you are number one in the world?

"Boss, have we really reached this point?" Filson hesitated. At least half of their companies were audited by Arthur Andersen. Now if you change the sentence and say that you are here, this is really embarrassing.

"At least be prepared!" William White sighed secretly. This was the most aggrieved family. What about the largest accounting firm? Enron is a class action lawsuit, and you can't escape it. Before the incident is over, you can be banned from engaging in related industries. It will take up to a month, and it will be difficult to survive.

Philson scratched his head secretly. The current matter was too big and had long been beyond his understanding. If he didn't have a big head to support him, he really wouldn't know how to deal with it.

All stocks are falling, falling at a very exaggerated rate. The largest energy company has falsified its performance, and the largest accounting firm has falsified its accounts. Damn Yingjiang, isn't this intentional to trick us?

Forget it for now, the funds related to retired workers must be withdrawn. The risks involved are too great. If there were no restraints, God knows what would happen to those bastards.

The most important thing in the capital market is confidence, which is why Wall Street remains standing. Compared with other markets, Wall Street has the largest trading volume and the highest degree of openness and transparency in the market.

Of course, the most important point is that the cost of fraud here is extremely high. If you are really found guilty, my God, all the money you made before will not be enough.

However, the cruel truth tells the world that there is no such thing as a clean market. In order to obtain higher profits, capitalists have no moral integrity. It's scary enough for one family to fall down safely, but what if there are more after this?

Look at Arthur Andersen’s client list?

Not to mention foreign investors, fund managers on Wall Street are equally at a loss. They have seen fraud before, but this is the first time such an outrageous one has happened. But what if this happens?