The Enron scandal was a financial scandal involving Enron

Question

0 The Enron scandal was a financial scandal involving Enron Corporation (NYSE ticker symbol: ENE) and its accounting firm Arthur Andersen, that was revealed in late 2001. After a series of revelations (=surprising facts which were previously unknown) involving irregular accounting procedures bordering on (=to be very close to being something) 01b00fraud, perpetrated02b00 throughout the 1990s, it left Enron on the verge of undergoing the largest bankruptcy in history by mid-November 2001. A white knight (=a person or company that puts money into a business in order to save it from being controlled by another company) rescue attempt by a similar, smaller energy company, Dynegy, was not viable (=successful). Enron filed for bankruptcy (=the state of being unable to pay your debts) on December 2, 2001.02br02br01span00Question: I would have written, ''fraud 02span01b01span00which02span02b01span00 perpetrated  throughout.... What do you say?02span02br02br00As the scandal was revealed, Enron shares dropped from over US$90.00 to less than 50¢. As Enron had been considered a blue chip (=companies or shares that make a profit and are considered safe) stock, this was an unprecedented (=of which there was no exmple in history, unexampled) and disastrous event in the financial world. 01b00Enron's plunge (=fall) occurred after it was revealed that much of its profits and revenue were the result of deals with special purpose entities (limited partnerships which it controlled).02b00 The result was that many of Enron's debts and the losses that it suffered were not reported in its financial statements.02br02br01span00Question: I couldn't understand the above bold part. Please help.02span00 0-

Clive · Accepted Answer

1font01b00Hi,02b02font02br
02br
00The Enron scandal was a financial scandal involving Enron Corporation (NYSE ticker symbol: ENE) and its accounting firm Arthur Andersen, that was revealed in late 2001. After a series of revelations (=surprising facts which were previously unknown) involving irregular accounting procedures bordering on (=to be very close to being something) 01b00fraud, perpetrated02b00 throughout the 1990s, it left Enron on the verge of undergoing the largest bankruptcy in history by mid-November 2001. A white knight (=a person or company that puts money into a business in order to save it from being controlled by another company) rescue attempt by a similar, smaller energy company, Dynegy, was not viable (=successful). Enron filed for bankruptcy (=the state of being unable to pay your debts) on December 2, 2001.02br
02br
00Question: I would have written, ''fraud 01b00which02b00 perpetrated throughout.... What do you say?01b01font00 No. But you could say 'which 01u00was02u00 perpetrated throughout . . . '02font02b02br
02br
01b01font00Actually, I'm not sure if 'perpetrated' is meant to qualify 'fraud' or 'procedures'. If the latter, then say 'which 01u00were02u00 . . . '02font02b02br
02br
00As the scandal was revealed, Enron shares dropped from over US$90.00 to less than 50¢. As Enron had been considered a blue chip (=companies or shares that make a profit and are considered safe) stock, this was an unprecedented (=of which there was no exmple in history, unexampled) and disastrous event in the financial world. 01b00Enron's plunge (=fall) occurred after it was revealed that much of its profits and revenue were the result of deals with special purpose entities (limited partnerships which it controlled).02b00 The result was that many of Enron's debts and the losses that it suffered were not reported in its financial statements.02br
02br
00Question: I couldn't understand the above bold part. Please help.02br
01b01font00 E02font01font01font00nron02font00 was ruined because of this. People found out a lot of its income was not real. it just looked real on paper. Enron was dealing successfuly with companies that were not real. They just existed as companies on paper, but not in the real world.02font02b02br
02br
01b01font00Best wishes, Clive02font02b0-

Jackson6612 · Answer

0 01blockquote

02br
10The Enron scandal was a financial scandal involving Enron Corporation (NYSE ticker symbol: ENE) and its accounting firm Arthur Andersen, that was revealed in late 2001. After a series of revelations (=surprising facts which were previously unknown) involving irregular accounting procedures bordering on (=to be very close to being something) 11b10fraud, perpetrated12b10 throughout the 1990s, it left Enron on the verge of undergoing the largest bankruptcy in history by mid-November 2001. A white knight (=a person or company that puts money into a business in order to save it from being controlled by another company) rescue attempt by a similar, smaller energy company, Dynegy, was not viable (=successful). Enron filed for bankruptcy (=the state of being unable to pay your debts) on December 2, 2001.12br
12br
11span10Question: I would have written, ''fraud 12span11b11span10which12span12b11span10 perpetrated throughout.... What do you say?11b11font10 No. But you could say 'which 11u10was12u10 perpetrated throughout . . . '12font12b12span12br
12br
11span11b11font10Actually, I'm not sure if 'perpetrated' is meant to qualify 'fraud' or 'procedures'. If the latter, then say 'which 11u10were12u10 . . . '12font12b12span12br
11span10I believe it qualifies 11i10procedures12i10.12span12br
10As the scandal was revealed, Enron shares dropped from over US$90.00 to less than 50¢. As Enron had been considered a blue chip (=companies or shares that make a profit and are considered safe) stock, this was an unprecedented (=of which there was no exmple in history, unexampled) and disastrous event in the financial world. 11b10Enron's plunge (=fall) occurred after it was revealed that much of its profits and revenue were the result of deals with special purpose entities (limited partnerships which it controlled).12b10 The result was that many of Enron's debts and the losses that it suffered were not reported in its financial statements.12br
12br
11span10Question: I couldn't understand the above bold part. Please help.12span11b11font10 E12font11font11font10nron12font10 was ruined because of this. People found out a lot of its income was not real. it just looked real on paper. Enron was dealing successfully with companies that were not real. They just existed as companies on paper, but not in the real world.12font12b12br
11font10How couldn't people know that Enron was dealing with some fictitious companies? If I say that I'm dealing with X company and ask people to invest money by buying shares, wouldn't they care to know that where X company was located? And what was the US government doing when they were doing this?12br
12font12br
12blockquote

10 0-

Clive · Answer

0Hi,02br
02br
00Fraudulent schemes like this are very detailed and complex, and manipulated by clever although unscrupulous financial experts.02br
02br
00Best wshes, Clive0-

Optilang · Answer

0There are many clever although unscrupulous financial experts, but not all of them manipulate fraudulent schemes.0-

Clive · Answer

0Hi,02br
02br
00Mailmen are bitten by dogs. ( But not by all dogs. ) 02br
02br
00Best wishes, Clive0-

Optilang · Answer

0 'Tis true0-

26TMNTJG2PG · Answer

0 This is a very interesting discussion. Allow me to present views:-02br
00Question: I would have written, ''fraud which perpetrated throughout.... What do you say? No. [reason being fraud (an abstract noun) having become the doer of the action of perpetrating. Even if you personified it, there must still be an object after the verb perpetrated as 'perpetrate' is a transitive verb which takes an object.] But you could say 'which was perpetrated throughout . . . ' turning the original adjective phrase iuto an adjective clause. Though the change is grammatically correct, it is not advisable as the original version is symmetrical with the earlier part of the sentence - a series of revelations. How does an asymmetrical sentence look like? Refer to a blog post titled 05002br
00Actually, I'm not sure if 'perpetrated' is meant to qualify 'fraud' or 'procedures'. If the latter, then say 'which were . . . ' This cannot be since an adjective/adjective phrase/adjective clause qualifies a noun or pronoun (antecedent) nearest to it. It is also not idiomatic to say procedures perpetrated. Can procedures be perpetrated?02br
00Question: I couldn't understand the above bold part. Please help. Enron's collapse was due to its income and gains were from inter-company transactions (where such deals including revenue and profits could be easily manupulated or inflated). Please note that the reason/explanation/clarification conveyed by the words within brackets are not in the original text.02br
00Best regards.0230hrefhttp://kengtpenangenglish.blogspot.com/2008/05/asymetrical-sentc"Asymmetrical sentence".

Jackson6612 · Answer

0 01blockquote

01cite10optilang12cite10There are many clever although unscrupulous financial experts, 11b10but not all of them manipulate fraudulent schemes12b10.12br
12blockquote

10Perhaps, they don't get a chance to manipulate.... 0-

The Enron scandal was a financial scandal involving Enron

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