Not surprisingly, someone who moves up too fast, without the technical requirements (his accounting credentials were being questioned from the beginning) and became a star early raises a red flag.
It became more about being a hero with the concomitant millions.
His demise was rather predictable.
We need to be wary of the stars with no obvious background!
Onésimo Alvarez-Moro
See article:
Andrew Fastow considered himself "a hero for Enron'' for hiding losses and bolstering earnings for the company through partnership deals he created.
Fastow, in his first public comments about Enron since being ousted from the company in late 2001, testified that the partnerships, known as LJM 1 and LJM 2, were designed in part to buy deals Enron wanted to wipe off its books so its financial statments would be stronger.
"I was being a hero for Enron,'' he said several times during testimony.
Fastow, whose hair has gone completely gray since the company's 2001 collapse, appeared calm and with purpose as he described the controversial partnerships.
"We were using this to inflate our earnings," Fastow said.
See full Article.
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