I declared bankruptcy, and that was the worst thing I ever should have done.
The Enron scandal is worthy of the highest level of scrutiny, both because of the enormity of the crimes that may have been committed and because of what the largest bankruptcy in American history has already begun to reveal about the weaknesses in our nation's corporate structures and regulatory oversight.
George W. Bush was a silver spoon dolt with no record to speak of other than bankruptcy and selling tropical plants, and we let him sail into the White House, but Barack talks about religious fundamentalism and guns being prevalent in poor areas, and we roast him for weeks?
Enron had already collapsed and filed for bankruptcy protection by the beginning of 2002. But despite complaints from short sellers that corporations had used accounting gimmickry to inflate their profits, many investors thought the crisis at Enron was an isolated case.
Enron Field in Houston, the Trans World Dome in St. Louis and PSINet Stadium in Baltimore are just three of the modern-day coliseums named for companies that have found new homes in bankruptcy court.
Most unfortunately, Enron's plunge into bankruptcy court also cost many of its rank-and-file employees their savings.
Fear is a problem with film music and films; people want to be conventional, and there's more commercialism today. If you are not daring in your art, you're bankrupt.
Today it is evident that we have two political parties: the Tax and Spenders and the No-Tax and Spenders. Neither party is fiscally conservative. Is there no room at the inn for an honest conservative? A conservative who makes the case for smaller government on its merits and not just as the fallback option when fiscal bankruptcy threatens?
Even if you feel like your debt is just never going to go away, think long and hard before declaring bankruptcy. Declaring bankruptcy means that getting a loan for anything will be next to impossible for the next 10 years.
People were expecting Rouge to go bankrupt, so there was a lot of anxiety. The corporate culture problem was even worse than in Russia. And at the same time, the work rules were more difficult.
