JP Morgan Mandates All Enron Investment Banking Business Over 18 Months

2min Snip

00:00

Play full episode

Summary

Transcript

Episode notes

JP Morgan mandates that all future Enron investment banking business will be handled by JP Morgan over the next 18 months. There's a further equivalent of run on the bank with Enron. Liquidity dries up even more. It blows through the $1.5 billion that Diner G lent it and is out of money again. We're going to have to restate everything. All the assets associated with Chuko and Jeddai. They're not married. So technically Dodson isn't a spouse. And they say, this is no good. We can't count that. It's not independent. This comes out during that period.

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…

If you want more Acquired, you can follow our public LP Show feed here in the podcast player of your choice (including Spotify!).

Sponsors:
Statsig: https://bit.ly/acquiredstatsig24
Vanta: https://bit.ly/acquiredvanta
Crusoe: https://bit.ly/acquiredcrusoe

Links:

Carveouts!:

‍Note: Acquired hosts and guests may hold assets discussed in this episode. This podcast is not investment advice, and is intended for informational and entertainment purposes only. You should do your own research and make your own independent decisions when considering any financial transactions.