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Richard

๐Ÿ‘ค Speaker
2047 total appearances

Appearances Over Time

Podcast Appearances

Conversations
Encore: climbing back into life after a schizophrenia diagnosis

You have got that right.

Conversations
Encore: climbing back into life after a schizophrenia diagnosis

What was the nature of your work in the company of all these suits and fast cars in London?

Conversations
Encore: climbing back into life after a schizophrenia diagnosis

Given that you're working in accounts...

Conversations
Encore: climbing back into life after a schizophrenia diagnosis

What was it like to observe Enron growing so quickly, having all this investment money, all these gigantic projects taking place in the most admired American company in the world?

Conversations
Encore: climbing back into life after a schizophrenia diagnosis

What kind of anomalies were you beginning to see in some of these account documents that were coming your way?

Conversations
Encore: climbing back into life after a schizophrenia diagnosis

There's a documentary about Enron called The Smartest Guys in the Room.

Conversations
Encore: climbing back into life after a schizophrenia diagnosis

And Enron, early on, once Geoffrey Skilling took over as CEO, started practising a thing called mark-to-market accounting, which was...

Conversations
Encore: climbing back into life after a schizophrenia diagnosis

they were reporting their income based on expected profits.

Conversations
Encore: climbing back into life after a schizophrenia diagnosis

They were sort of banking that and reporting that and the share price sort of rose accordingly.

Conversations
Encore: climbing back into life after a schizophrenia diagnosis

And this was all being done within a very opaque system.

Conversations
Encore: climbing back into life after a schizophrenia diagnosis

Was this something a guy at your level was aware of, this mark-to-market accounting practice that was going on?

Conversations
Encore: climbing back into life after a schizophrenia diagnosis

Even I remember, and I pay very little attention to the financial pages, but even I remember at the time the leaders of Venrod were being hailed in the late 90s as geniuses.

Conversations
Encore: climbing back into life after a schizophrenia diagnosis

Like, they were incredibly brilliant people.

Conversations
Encore: climbing back into life after a schizophrenia diagnosis

It must have been very, very weird.

Conversations
Encore: climbing back into life after a schizophrenia diagnosis

On the one hand, you're seeing things...

Conversations
Encore: climbing back into life after a schizophrenia diagnosis

in black and white on a balance sheet in front of you that just don't tally with everyone in the world, including presidents, saying that these people are geniuses and they've found new ways to make money.

Conversations
Encore: climbing back into life after a schizophrenia diagnosis

Was there a bit of that?

Conversations
Encore: climbing back into life after a schizophrenia diagnosis

Were you feeling a bit, I don't know, the stress of that?

Conversations
Encore: climbing back into life after a schizophrenia diagnosis

If you can see something here that doesn't accord with the emperor's new clothes culture that's around Enron at the time.

Conversations
Encore: climbing back into life after a schizophrenia diagnosis

So given that you're in a position in London where you're seeing these terrible, shocking anomalies and you're bringing them up, what did that do to your position in the company, your reputation, the kind of friendliness with which you were being greeted?