I have not come across this on any of the lists I subscribe to so I
thought I would send it on. Of course I do not know the source but it is
a  chuckle.

Subject: explaining
enron

Feudalism - You have
two cows. Your lord
takes some of the
milk.

Fascism - You have
two cows. The
government takes
both, hires you to
take care of them,
and sells you the
milk.

Communism - You have
two cows. Your
neighbors help take
care of them and
you share the milk.

Totalitarianism -
You have two cows.
The government takes
them both,
denies they ever
existed and drafts
you into the army.
Milk is banned.

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.

Enron Venture
Capitalism - You
have two cows. You
sell three of them
to
your publicly listed
company, using
letters of credit
opened by your
brother-in-law at
the bank, then
execute a
debt/equity
swap'with an
associated general
offer so that you
get all four cows
back, with a tax
exemption for five
cows. 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 cows
back to your
listed company. The
annual report says
the company owns
eight cows, with
an option on one
more.


VICUG-L is the Visually Impaired Computer User Group List.
To join or leave the list, send a message to
[log in to unmask]  In the body of the message, simply type
"subscribe vicug-l" or "unsubscribe vicug-l" without the quotations.
 VICUG-L is archived on the World Wide Web at
http://maelstrom.stjohns.edu/archives/vicug-l.html