February 01, 2002

This explains a lot...

Posted by Scott at 11:52 AM

Thanks to Stu for this one:

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.

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