- Category: Katja
- Created on Monday, 28 January 2002 00:00
* Capitalism - You have two cows. You sell one and buy a bull. Your herd multiplies, and the economy grows. You sell them and retire on the income.
* Communism - You have two cows. Your neighbors help take care of them and you all share the milk.
* Enronism - You have two cows. You sell three of them to your publicly listed company, using letters of credit opened by your brother-in-law, then execute a debt /equity swap with an associated general offer so you get all four cows back, with a tax exemption for five. The milk rights of the six cows are transferred via an intermediary to a Cayman Island company secretly owned by the majority shareholder who sells the rights to all seven back to your listed company. The annual report lists all eight cows. You get a clean audit opinion from A/A.