What Happened at Enron?

[@HannahMargaret93]

Enron has their hub in Houston, where I was raised. When they went under the building was eventually bought by Lakewood Church. It’s like the building attracts con artists and fraud Can we talk about Mega Churches and their business?

[@franklefebver3900]

Very pretty

[@jenniferhof9448]

Not to mention the extra perks they have being tax exempt!

[@timothyneiswander3151]

do it business blaze..I double dog dare ya

[@markkarasik2211]

Yeah, there’s no shortage of churches in need of Blazing!

[@alfredrestivo2713]

Lakewood bought Compaq center , previously known as The Summit(a concert hall and sports-plex where the Rockets basketball team played). The Enron building is owned by Chevron.

[@mitchellortiz3689]

Hi, Houston based accountant here. Mark-To-Market is the practice of adjusting the “Book Value” (curent price on the balance sheet) to the “Market Value” (reasonable price of liquidation). This allows companies to recognize losses and gains through revaluation of Assets that have changed in value (ie Berkshire Hathaway’s mountain of stock). Enron abused this process to write-up the value of their holding based on predicted future cash-flows, and the SEC still needs to work on this for companies that abuse this practice (ie Tesla, Lyft, Uber.... could go on, I don’t have anything to be sued for). On a separate note, please do one of these on the South Sea Bubble, Business Blaze is easily my new favorite channel.

[@csours]

And crucially, they never really marked them down later. Mark to Market is usually reserved for things where the value is easy to determine, like stocks and commodities. Enron used Mark-to-Market for ideas and concepts and lines of business.

[@johnryoung4558]

The South Sea Bubble would make for an extremely amusing HBO style period drama series/mini-series.

[@SEAZNDragon]

@@johnryoung4558 With plenty of Walpole jokes I hope.

[@LordInter]

hi, London based accountant, this is just what you do but you can't take the piss otherwise, well enron... Also (at least in the uk) if HMRC see you taking the piss, you're going to jail for fraud (or getting a small fine and probably fired, more like just getting asked to stop it)

[@TheFakeyCakeMaker]

This is the long comment that Simon said he'd ignore and clearly did.

[@uzaiyaro]

The most amazing fact about this company was the opening line of The Smartest Guys in the Room: “it had taken Enron 16 years go to from $10b in assets to $65b in assets. It took them 24 days to go bankrupt.”

[@cbandtheradio5610]

Simon and Crew! Love the video as always! As an American the easiest way I have found to explain the "How could Enron happen?", or all the bailouts, etc to Europeans is like this. In Europe for a very long time you have had titles that allowed many people to get away with a lot of BS. From royalty, to the clergy, and all the way to Sir, and Dame. Now bring that over to a country that doesn't have the history of all that, and though humans will be humans the same atrocities WON'T occur. Because we don't HAVE those, so we'll be fine. It's hilarious because it's just under a different name, with different justifications. "Too Big to Fail" is the same as "Imagine the scandal?!", "He's from the family of blahblah and they can't be touched!" is the same as "They've got contracts with the government, and blahblah business and they can't be touched!" Oh the scandal! Haha! It's the same BS on the other side of planet. Just with different names, and titles. This is NOT to say that all American Business is evil, not at all! It JUST means that no matter what you call something there will always be people taking advantage, and it's not only naive to think otherwise, but ABSOLUTELY dangerous to think "It can't happen here, to us." At some point we as a collective human society are going to have to realize that TERMS such as CEO, or Lord, or whatever don't actually mean anything, and the ACTIONS such as fraud, murder, abuse, etc are ACTUALLY what matter. Who cares about the title of the person who did it? Is a person, or entity that commits fraud, and theft NOT a thief if their a business or someone who holds a title? Anyways, love the vids! Keep up the great work!

[@BaronVonQuiply]

The last time I was this early, Simon only had 34 channels.

[@brainblaze6526]

:D

[@Vegas_Des]

Baron von Quiply lmao I’ve always wondered how many channels he has

[@vwhisp1394]

Simon's lazy dayz!

[@matthewkoster9967]

@@Vegas_Des I believe he's up to 8 or 9 now

[@Jenny_Metzelar]

@@matthewkoster9967 meaning this guy is from the future when Simon has that many (just in case anyone actually thinks I’m serious because someone always will here that is a joke)

[@Idaho-Cowboy]

I love the informal business attitude. This is my favorite of your channels Simon.

[@brainblaze6526]

Thank you :)

[@katrinabryce]

It is now no longer the biggest bankruptcy in history: 1 - Lehman Brothers - $691bn - 2008 [current record holder] 2 - Washington Mutual - $328bn - 2008 [took place 11 days after Lehman] 3 - Worldcom - $104bn - 2002 [former record holder] 4 - General Motors - $91bn - 2009 5 - CIT Group - $80bn - 2009 6 - Enron - $66bn - 2001 [former record holder]

[@Dr.RichardBanks]

FUN KILLER!

[@nadavk]

I wouldn't count many of these because - for example - WaMu's debt and assets were bought and absorbed by chase

[@katrinabryce]

​@@nadavk The FDIC paid Chase to take them over, so I think it does count.

[@brolohalflemming7042]

@Texas Vagabond WorldCom was the other company wanting to take over the Internet. And already ran a large chunk of it. Also taken down by.. dubious accounting practices. And while I was working at WorldCom, I was headhunted to go work for Enron. On the plus side, they were offering silly money. On the minus side, I didn't see any way it would ever work as anything other than a massive money pit. So I politely declined the offer, and was rather interested in some of the odd Enron stuff that got sold during it's bankruptcy auction. Like large chunks of land, but the catalogue didn't mention if they had executive retreats built on them. Sad for the people that believed in the Enron story and lost jobs/money. And even sadder thing is some of the current stock market darlings like Tesla are trading on even worse fundamentals that Enron or WorldCom.

[@hedydd2]

@Texas Vagabond With an attitude like that, don't be surprised if you soon become homeless again. Chill out man!

[@ididitlikethis2273]

Dont change a thing simon, this is my favorite channel of yours now, please keep the roasts coming.

[@brainblaze6526]

Thank you, will do!

[@jennyli7749]

Casey Fender it’s great watching longer videos of Simon and his roasts make me chuckle so bad lol

[@taylongustafson1370]

The subtle Epstein reference is a nice touch👌😂

[@JakeandElwoodBlues]

By the way, he didn't kill himself.

[@brainblaze6526]

;)

[@MinistryOfMagic_DoM]

@@JakeandElwoodBlues of course he didn't. I murdered him on behalf of Hillary Clinton.

[@JayMayKnow]

It was true Gold!

[@sambecker23]

We need an episode on Jeffery Epstein. I have no idea what it would actually be about. But it needs to happen just because of the epic joke possibilities.

[@lollerich]

Simon, in all honesty... this is your best channel. I like almost 99% of your content, but this channel is just the best. You need to promote and grow it more. This is the most fun channel you have. I absolutely love it.

[@katies7158]

This might easily be my favorite of your channels too. I love the casual vibe and personality.

[@brainblaze6526]

Thank you :). That's nice to hear.

[@jonathanstave2001]

Simon, I don’t know if you’re still taking suggestions, but I would love to see a video about interesting or amusing trademark, patent and/or copyright cases.

[@vnikyt]

Jonathan Stave Fantastic idea

[@krazed98]

I second this!

[@WarpRadio]

I third this! esp "The Caveman" (I'm the one who recommended Enron...)

[@AcydDrop]

The movie "Enron: The Smartest Guys in the Room" is a great movie to watch if people got interested in a bigger deep dive after watching this. It's a really completely mental to watch the lunacy that was Enron and this isn't even a fictional movie!

[@littleboxxes]

So good!

[@TheFakeyCakeMaker]

Thanks for reminding me of this. I'll watch it.

[@brittanyjennings4236]

"Ask why, @$$hole." Such a good documentary.

[@patrickbrayne647]

SIMON I CLICKED THAT LINK IN THE DESCRIPTION KNOWING FULL WELL WHAT IT WAS GONNA BE YOU DID IT AGAIN

[@madagascarmaus]

I also couldn't resist

[@Hanyousan1661]

@@madagascarmaus I clicked it thinking he'd actually done a Theranos video (before I'd actually listened to this one). I was so confused for like...15 seconds. 🤣

[@nadavk]

@@Hanyousan1661 he did actually do a theranos episode that just wasn't the link...

[@brainblaze6526]

You’re welcome.

[@dangerouslytalented]

You know the rules and so do I

[@zmanjace1364]

Hey, business blaze is just business casual. Its like a Friday in jeans every few days!

[@Dr.RichardBanks]

"At these viewer numbers" well guess I need to watch business blaze alot more and single handedly get Simon Whistler out of debt 💁‍♂️

[@brainblaze6526]

Tell your friends :D

[@Meatsweats_o_O]

@@brainblaze6526 my dog isn't able to operate the computer though. i'm sorry i'm not more helpful.

[@613aristocrat]

The biggest betrayal of trust was the accountants at Arthur Andersen since they were the ones supposed to audit Enron. Enron was super shady, but when the watchers failed, they had to create a commission to watch the watchers with the Sarbanes-Oxley Act.

[@Satarack]

The Arthur Andersen convictions were later overturned by the supreme court in a unanimous decision for prosecutorial misconduct in the case. The prosecutors had knowingly hidden exculpatory information that could have changed the jury's verdict, and the jury had been systemically misled as to what crimes Arthur Andersen was even being charged with.

[@nicholaslewis8594]

Because business is boring so Simon’s rants keep it entertaining. Simon could make a video watching paint dry entertaining 😂 This is the best of your channels IMO.

[@stephjovi]

I bet he could. He'd make so many strange comments about the paint the color what color it was before where it is from etc mondain boring things that would be extremely entertaining when Simon talks about them especially if Danny writes the script

[@Otterplus]

After 2 years of business courses I wholeheartedly agree. The only fun I've had is putting a hard emphasis on the first half of "analysis"

[@harrydemontechristo8425]

Business really isn’t boring, if it makes you rich & self sufficient, is that a bad thing? Only “old money” (families that got rich from slavery, sugar, tea, theft from India & colonies of the empire) those were monopolies. Educate yourself on the lifeblood of modern society

[@Dr.RichardBanks]

Lies, Simon can't make baseball entertaining 💁‍♂️ it just sucks till the end of time. Signed, an American who hates baseball.

[@brainblaze6526]

Richard Banks Agreed. Baseball is pretty dull.

[@LunaHarp91]

That needlessly elongated slap to the paper 😂😂

[@hakeemfullerton8645]

Do a video on the Teapot Dome Scandal

[@plushman3685]

Hakim Fullerton Yes!

[@luke4466]

The informality of this channel definitely makes this one my favourite of your 8043 channels.

[@jacobthatcher385]

Simon, love the casual format of business blaze. Keep them coming!

[@asparceproton1]

A couple weeks ago I went to this channel's uploads page and searched "enron." I'm glad you guys finally got around to making a video about them!

[@brainblaze6526]

It was heavily requested :).

[@kermut]

I love how much fun you guys have doing this

[@VinzentC]

Please make the "What Happened at ______" a series if it isn't already, there's so many dodgy/failed businesses throughout history

[@theradiomechanic9625]

I for one like the casual format. Lets us have a window into what Simon is really like. Keep up the good work.

[@redbandit1able]

I sit up with excitement everytime I see this channel release a video! Love it...

[@brainblaze6526]

:)

[@3fingerfarm73]

Creative accounting at it's best. Once again Simon and Danny knock it out of the park. Thanks for bringing a smile.

[@Xanthelei]

And all of that didn't even touch the "innovative practices" that took place between their energy company and California. Remember the rolling brown- and black-outs in California in the early 2000s? Yeah, a good portion of that was Enron straight up shutting down power plants for "maintenance" during peak times and "forgetting" to bring them back online. The shadiness extended well past their accounting methods and IIRC nearly bankrupted one of the largest states in the US over energy that was easily produced. Enron was just shit all around, that first name would have been perfect. If only someone hadn't looked it up!

[@angelachouinard4581]

It didn't help P G & E declared bankruptcy in 2001 9 million in debt. Would love to know if there was a connection. Although they went into Chapt 11 late last year and no Enron any more.

[@richardsprague2312]

I love the idea of a business themed channel is given in a relaxed manner. Keep up the good work!

[@briancrawford8751]

I worked for Andersen Consulting in 1999 and 2000, and they were very adamant that they were entirely independent of Arthur Andersen, LLP, even though they were a spinoff. After the shit hit the fan, they changed their name to Accenture, whatever that means.

[@GrimKeeper9011]

Why? Because he's f@*king Simon Whistler that's why!!!! We love it.

[@zappawench6048]

Way down deep in the middle of the Congo A hippo took an apricot, a guava and a mango He put 'em all together and he did a dainty tango He said, "I know! I'll call it Um Bongo!" Um Bongo, they drink it in the Congo The python picked a passion fruit, the marmoset a mandarin The parrot painted packets that the whole caboodle landed in So when it comes to sun and fun and drinking in the Congo They all prefer the sunny, funny one they call Um Bongo! Libya's Um Bongo I typed that without looking it up, so stupid what sticks in your head!

[@stevenlouton6381]

Another good idea for a topic would be the bone wars. I don’t remember specifics but it took place in the 1800s between two archaeologists/paleontologist and the war they took part in between each other trying to find and name new dinosaur bones and be the first to name them. There was spying, stealing, lying, and much more. It’s interesting and would make for a great video for this channel. The whole battle between the two who started as friend at the beginning and lasted until their death was know as the bone wars. I hope this idea is helpful. Thanks for everything and take care.

[@sandybarnes887]

kzbin.info/www/bejne/f366coKNm8eBZ68

[@brainblaze6526]

Thanks, I did a pretty long video about this on TopTenz. Might be a bit repetitive for me.

[@nickdaveNDM]

This is one of my favorite channels of yours. This and geographics. Biographics close behind. But I love this more casual format.

[@brainblaze6526]

Thanks :)

[@alisgray]

Your chuckling is very delightful.

[@michaelsnowden5735]

I enjoy all your channels. This channel, however, is your best. Informative yet casual. Keep it up.

[@brainblaze6526]

Thanks! :). Glad you're enjoying it.

[@kca_randy]

Simon trying to look hard in the thumbnail is amazing.

[@brainblaze6526]

I'm pretty gangsta.

[@bracconiere2868]

love the format, unlike today i found out i don't even need to care about the topic...i know i'll enjoy it...

[@brainblaze6526]

:)

[@jennyli7749]

Bracconiere 2 me too! I’m watching videos to the end on topics I have literally zero interest in goes to show how good Simon is! He’s just incredibly funny 😂

[@anamkarajoy]

Watching the second time is especially worth it when I get to notice previously missed “blink-and-you’ll-miss-it” additions by Sam. He’s just delightful, seriously. I can’t help absolutely picturing him being that one friend who mutters the funniest sh!t you ever heard under their breath, making you burst out laughing at awkward times in totally inappropriate situations, but it’s totally worth it.

[@plushman3685]

Suggestion: President Harding and the Tea Pot Dome scandal

[@thechumpsbeendumped.7797]

“Jeff Skilling was sentenced to 24 months... this was later reduced to 14 YEARS”?? Did he moon the judge?

[@jlopez665]

As an accountant it’s a weird methodology for the US GAAP that mostly applies to upstream for oil and gas. It works with estimates, that are most likely to become true

[@reuvensg]

I love this casual business readings, keep up the good work Simon 😀

[@ryanclarke2161]

Don't worry Simon, the lack of formality in this series is really good, keep it up. Really enjoying this as well as geographics. Don't be surprised if no one can find this channel, I looked for it for a while after hearing about it, need links from today I found out to here.

[@marcbeebee6969]

Simon reminds me of my economics teacher. It's great every time I have a shitty day I watch this channel and it makes me smile

[@cynthiasimpson931]

In the year 2000 I was 42 years old, and I have vivid memories of when all this was happening. I lived in California at the time, and in winter I had the choice of paying or freezing.

[@calendarpage]

At the time, I had the opportunity to go to a doctoral program at Berkeley. I'd read articles about the sudden, sky-high utility bills people were getting and decided not to go, though I would have loved a little time in California (I wound up elsewhere on the west coast). I knew that as a student, just one of those bills could be ruinous.

[@Dr.RichardBanks]

"Danny has written us a script" Me: DAMN YOU DANNY AND YOUR FUNNY SCRIPTS 😉

[@Nick-gj6je]

Enron is the 9th largest bankruptcy in history now. Top 5 based on asset size at time of bankruptcy as of February 4th, 2024 is: 1. Lehman Brothers $691 Billion (2008) 2. Washington Mutual $327.91 Billion (2008) 3. Silicon Valley Bank $209 Billion (2023) 4. Signature Bank $110.4 Billion (2023) 5. Worldcom $103.91 Billion (2002)

[@TwEaKzzNation]

I went to the same high school as Andrew Fastow, some of the older teachers had him as a student and apparently thought he was a little psychopath long before all the Enron business.

[@LostScarf]

I enjoy how casual this channel is and I'm glad it grew.

[@nickvoelker7180]

This was a great time to be alive. At the time I worked for Tyco, and I was contracted out to Enron. Tyco had their own financial collapse when Enron did. I had a 75% drop in my income that year, good times.

[@kingjellybean9795]

Tyco? Is that the same company that made rc cars back in the 90s?

[@nickvoelker7180]

@@kingjellybean9795 No, they're among the 200 largest corporations in the world. They have their hands in everything, and it is nearly impossible to build something without using Tyco products or services.

[@vnikyt]

Nick Voelker I’d just graduated college that year. Ah, the early 2000’s recession. Up until then, friends who graduated ahead of me were being headhunted and getting multiple offers with impressive packages. By mid 2001, however, everything had dried up and packages were crap. Then 9/11 happened and you just hung onto whatever job you still had and took all of your boss’s shit

[@alakani]

@@nickvoelker7180 They don't really exist anymore, since 2016 or so. The name got sold to Johnson Controls, which only does security and fire under that name now. The healthcare stuff is now Covidien in Ireland, and the connector stuff is now TE in Switzerland

[@Hybridchld]

Fun fact my first job out of school was working in the records department of the Arthur Andersen Dublin office destroying the records of the Enron shell companies. Got interviewed by the FBI and all

[@ColaKitty9595]

I love you in casual mode. Your professional mode on the biographics channel is a sometimes played to dose off before bed... this is more engaging.

[@spacepeanut8993]

For a flashback, you could always pull a "Wayne's World," and just use a wipe...

[@andiward7068]

didddda dooo diddadoo diddadoo

[@davidnewlove6977]

Loving the new channel Simon.Last Week Tonight is now the 2nd funniest thing to watch.

[@brainblaze6526]

Wow, that's quite the compliment. Thank you :). (I'm a big LWT fan)

[@nickmarcello7125]

Hey Simon, love all your channels! Also i think a video about the business practices and the downfall of DMC and John Delorean would be interesting/humorous!

[@nickmarcello7125]

Also this channel is great BECAUSE its casual and funny

[@victoriaelizabeth9726]

Business blaze is my favorite of all your channels!!!!! I don't have any specific requests but I do have this: I'm from the US, but I especially love non-US content so I can learn about the rest of the world!

[@brainblaze6526]

Thank you :)

[@StarParticleShade]

I LOVE this channel! I love learning and all that - but I get learned AND entertained. You mad lads.

[@brainblaze6526]

the maddest of the mad

[@davidlovell1839]

Taught. You’re welcome.

[@MoYvStarkey]

Do something on the Savings and Loan fiasco of the eighties.

[@DC-ru5xz]

As someone who is doing an accounting diploma, I can wholeheartedly agree that 1. Accounting is super super boring and 2. It really is “WHAT?????”

[@nicolajrath1570]

"This is the longest Business Blaze introduction ever" if they only knew about future Business Blaze introductions

[@spitfire_2]

exactly what I was thinking

[@klaatu9726]

Always a good day when I get some Business Blaze!! Simon & Danny keep up the amazing work, you guys make the best content!!!

[@brainblaze6526]

Thanks :)

[@stevenlouton6381]

Simon, yet again you and Danny crank it out of the park. Thanks much. I was thinking a interesting topic would be theme parks or amusement parks that became scandalous because of shady dealing and use of poor building supplies and back handed dealings. Or something of that nature. Thanks again for the great channel/channels and the awesome content y’all make for us to enjoy.

[@andiward7068]

Like how Disney paid bribes and blackmailed politicians to remove environmental concerns to build Disneyworld?

[@nunyabznss5866]

Enron is the reason business students in America have to take and ethics class.

[@_Abjuranax_]

The reason Enron started cooking the books was because of stockholder pressure to show a profit each quarter, which they did in spades, essentially creating a bubble which eventually burst. The auction you referred to was for the Company itself, but all of the equipment and furnishings were sold at another auction. The big "E' outside their corporate headquarters was the highest item sold at 36k, to a competitor who said that "price was not an objection". And it probably wound up in his backyard as a conversation piece, money well spent. Everything else went for dirt cheap bids, and me and my friends actually bought and recycled all of their computer equipment for scrap.I don't remember what we paid for it, I just remember a whole warehouse full of computers, and it cost more to ship them to Fort Worth than what we originally bid on them, lol. "The Smartest Guys in the Room" is a great film that goes more into their downfall, and essentially the law before Sarbanes-Oxley was "comply or try", and was replaced with "comply or else", with the new Act signed into Law. And most of the offshore accounts were completely fictitious and only existed on paper.

[@forcethehandofchance7124]

Unprofessional professionalism, brilliant. This is my new FAVORITE business channel on the tube of you. Cheers!

[@metocvideo]

Re: Umbongo, the fruit drink in a carton. At my school, Umbongo was infamous as the drink that had so much sugar and fruit in it, that drinking more than one a day would lead to severe diarrhoea.

[@r.travisbrazelton7941]

I absolutely lost 70% of my retirement (and Enron pulled the market with it making the other 30% worthless). Worst timing ever as I was getting laid-off and required to change my 401K to a different plan or cash-out. Broke, I was forced to cash-out. Now I cringe every time I hear Enron; or my current employment dealing with EOG (Enron Oil and Gas). I hate them, I will already hate them! They owe me hundreds of thousands of dollars (plus interest or the expected increase of my 401K from 1991). Then the same thing happened again with my Weatherford International stocks... those phucks! Down 99.27% as they sit frozen.

[@FosukeLordOfError]

i enjoy the causal style, though i also like the more formal format for your other channels. it's nice that each have their own styles

[@thedhanirose]

Business blaze is my favorite of all your channels. It’s like the perfect oxymoron. Pointing out the idiocies of business while being itself a casual look and a somewhat business idiocy. It’s comical and light while covering serious and deep topics all at the same time. It is absolutely fantastic and never change a damn thing!

[@brainblaze6526]

Thanks :)

[@williamjeffersonclinton69]

I wish momma would slap me like Simon slapped that paper.

[@1m1nth3m0b2]

William Jefferson Clinton still a better option than the wife

[@Dr.RichardBanks]

A little kinky but I'd watch 💁‍♂️

[@jennyli7749]

William Jefferson Clinton 🤣🤣🤣

[@mcore0007]

I love your energy on this channel! Its really up beat, and it looks like your having fun which makes me have a better day at work 🤗💯👨‍💻

[@godzgoliath]

I like informal simon a lot. wish he'd appear in the other channels sometimes.

[@holyassbutts]

I dunno, I like classy fact boi Simon too

[@artistwithouttalent]

2:07 BADA-BUM-BUM 9:29 A "brief" take from an accounting major (obligatory 'not an accountant, this is not financial advice' CYA notice): I doubt that Mark-to-market is still acceptable under US Generally Accepted Accounting Principles and almost certainly not under international standards in light of the Enron debacle. That said, I can kind of see how such a system could come to be. A LOT of accounting is trying to assign a monetary value to assets and deals that are hard to quantify, and the field also does involve a bit of *very* well-informed and conservative predictions of near-future events. That said, if Enron was in any way honest about their finances, they would have *REMOVED* the failed ventures that clearly were not going to be bringing in money in the future from the balance sheet.

[@tuoppi301]

Another not an accountant here, but the principles behind Mark-to-market are widely used in business, as discounting future cash flows to present value is one of the most used tools to compare different investments, also it can be used to find fair value for eg. stocks. Also if I remember correctly Enron was the largest US company not providing cash flow statements, which would have shown that their massive profits were purely on paper.

[@angelachouinard4581]

@@tuoppi301 That lack of cash flow statements should have lit things up like Vegas at it's brightest. There used to be a store chain W T Grant that went bankrupt in 1976. My professor showed how cash flow statements would have revealed the danger. But it took until 1987 for the standards board to finally ask for it while they hammered out the details. It's not a total guarantee but GAAP requires them, and Arthur Anderson, their auditors, went down the toilet with Enron and deserved to, IMHO.

[@Smile8924]

Simon this is by far the best channel you have 5* content

[@fatcat6984]

Love the video Simon and Danny! Great script as always! Simon your laugh makes me giggle; thanks for the entertainment! ❤️

[@brainblaze6526]

You're welcome, thank you :)

[@RichardPetron]

It's perfect never change the format of this channel

[@brainblaze6526]

Thanks :)

[@adamfrazer5150]

This highlights that when people get caught doing something wrong, and the claim that things in a particular area are being cleaned up, it only makes those seeking to do wrong more creative. I should have become a corporate accountant.....and a golfer.

[@fubleach2]

I love this chanel, I really don’t know why business blaze does not have more views. I hope you get more view Simon, so you don’t have to stop making videos here.

[@cheaterman49]

I'm waiting for the accountant in the comments to post his thoughts on the process :-)

[@Larandar]

Me too, 1 month and no accountant praise this novel process!

[@cheaterman49]

@@Larandar Totally - I guess they're still searching where it says it's illegal, either that or they're still wondering why they didn't think of it themselves, hehe!

[@marissabones]

I find it impossible not to watch it till the end

[@cathalmccourt1659]

Hey Simon. i got rickrolled. also, it would be really cool if you covered Anglo Irish Bank, the company that triggered the banking industry bailout in Ireland and lead to their collapse.

[@rollerdragon]

thank you!!! i've been asking for this...

[@UsernameU222]

I like your other channels, but the informality of this channel is a nice change of pace.

[@brainblaze6526]

Thanks :). Glad you like it!

[@NathanTempleton_Integration]

Keep doing what you are doing on this channel Simon! It is a work of art that I look forward to enjoying on the daily!

[@aivspn1]

I'm sorry but don't listen to any of the comments telling you that this channel should be different in any way please.. I like your other channels but this is incredible content in my opinion :)

[@paulsheehan2998]

How does this channel not have more subs? It's fucking awesome Please keep on with it

[@Cheesesticks-1]

This is my favorite channel in the whistle-verse

[@skyden24195]

Dig the casual approach to Business Blaze. Y'all crack me up.

[@brainblaze6526]

Thanks :)

[@plasticoflamingo2952]

"Something something something... something something something." That's the exact wording of the ENRON New Accounting Method.

[@Barabyk]

This channel has all the things I’m missing everywhere else. It’s like today I’ve found out after a couple of pints.

[@w3k1m]

1:45 Coming back to watch old videos for the first time after being recently introduced to the channel and hearing this made me chuckle

[@damiensadventure]

I love this channel

[@timothyneiswander3151]

I was hoping a business major would have posted a comment on their business model so I could just chime in with that's what I was thinking. I am by far no expert having only taken enough business courses to make me feel comfortable doing my own accounting on my business, but here is what I recall on that model. The US government would certainly approve of getting taxes for projected earnings as long as the company grows. They get the money upfront. Works out for the company because the taxes usually go up every year so they save money by paying upfront. If the company doesn't do well then they write the difference off on their taxes as a loss (yes this is really shady but it happens). If they are doing really bad then eventually the government might have to pay back some of the taxes. I am sure there was some political dealing to get the government to not look too close at the books when they got approval. This business model is also perfect for money embezzlers and launderers. Just make sure you are long gone before someone looks too close at those books.

[@ronnieeastep4246]

I live in Oklahoma and I personally know several people who lost their life savings do to this company. It hurt this whole region badly. Where I live is dependent on oil and gas. It was sad and tragic. Thank you for covering this. I love your channels watch them all the time

[@DerptyDerptyDUM]

I just laughed out loud when Simon said "this is the longest Business Blaze introduction ever" at less than 2 minutes in. 😆 Ohhhhh, you sweet innocent lamb, the times ahead of you....

[@burtdurger847]

"And this is longest intro to a Business Blaze episode ever"... ah, the simpler times.

[@flowrebaz6189]

“I went in on a Monday and my stocks were gone, the Enron Ron Ron Ron, the Enron Ron Ron” Robin Williams

[@antimatterbeam]

This is your best Channel and I'm subscribed 3 out of the ten plus ones you have that's one far exceeds my expectations