- cross-posted to:
- technology@lemmy.ml
- cross-posted to:
- technology@lemmy.ml
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Damn that’s around 1% of the entire global GDP…
Now that every generation from gen-x on mostly no longer gets pensions but gets 401ks this can really f up people’s savings that they will depend on in retirement.
Oops didnt mean to! ;)
The Oracle credit rating is literally one step away from “Junk”!
So at least regarding Oracle, the finance world is onto them.Just a few days ago Oracle was reduced from BBB to BBB-.
Enron got nothing on these crooks.
Enron wrote a chapter in the textbook these guys read as interns.
https://www.justwatch.com/us/movie/enron-the-smartest-guys-in-the-room
A Nikkei study put that hidden figure at $1.65 trillion, up roughly eightfold in four years. It is more than the $1.35 trillion the five report outright.
The Enron echo
The money is tied up in off-balance-sheet vehicles, the same kind of structure Enron used to hide debt before it collapsed 25 years ago. Back then it was fraud. Now, tightened rules and fuller disclosures make it legal.
The tools are still there, though. “Enron’s crime wasn’t having special purpose vehicles,” analyst Gil Luria told Bloomberg Law. “Enron’s crime was hiding them.”
We’re on track for what several analysts said would happen prior to an AI crash around November to February.
OH TAXPAAAAAAYERS
WE’D LIKE ANOTHER BAILOUT
Scratch out Enron, replace with AI companies
