🚀 go-pugleaf

In article <a2e90d$2ti3$1@pencil.math.missouri.edu>, Mark Graffis says...
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>How to Explain Enron to Your Children:
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>Feudalism - You have two cows. Your lord takes some of the milk.
>
>Fascism - You have two cows. The government takes both, hires you to take
>care of them, and sells you the milk.
>
>Communism - You have two cows. Your neighbors help take care of them and you
>share the milk.
>
>Totalitarianism - You have two cows. The government takes them both and
>denies they ever existed and drafts you into the army. Milk is banned.
>
>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.
>
>Enron Venture Capitalism - You have two cows. You sell three of them to your
>publicly listed company, using letters of credit opened by your
>brother-in-law at the bank, then execute a debt/equity swap with an
>associated general offer so that you get all four cows back, with a tax
>exemption for five cows. 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 cows back to your listed
>company. The annual report says the company owns eight cows, with an option
>on one more.