The CEO of Enron - What Happened to the CEO of the 7th Largest Company in the World?

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Grubbin asks why Enron only reports an income statement and doesn't report their balance sheet or cash flow. CEO responds by saying, well, first of all, thank you very much. We, asshole. And everybody in the room, the call starts looking around and they're like, did the CEO, what just happened? Of the seventh largest company in the world, just call an analyst an idiot on an earnings call.

The FTX fraud has dominated headlines now for weeks, during which we’ve debated if and how Acquired could uniquely add to the conversation. Then we realized there was an angle so perfect that we had to drop everything and enter Acquired research overdrive: Enron. Travel back with us to the granddaddy fraud of them all, 2001’s then-largest bankruptcy in US history and the impetus for the famous Sarbanes-Oxley Act. So much of Enron’s history parallels FTX that the uncanniness is almost unbelievable — right down to the same CEO running the two bankruptcies. Sit back and enjoy this crazy tale of villainy, greed, and the nature of humans and money. Maybe just don’t take notes on this one…

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