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Bix Weir Alert.. New Enron’s Everywhere!

Monday, October 26, 2015 13:38
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(Before It's News)

Moral Hazard defined:

Moral hazard is a situation in which one party gets involved in a risky event knowing that it is protected against the risk and the other party will incur the cost.

Hmmm…

In the case of $90B market cap implosion Enron, it was a structuring of off-balance sheet entities that were used to artificially boost sales, hide questionable activities, skirt the regulators/auditors and enrich senior management that thought they were SO SMART at running the con that they obviously deserved a big payout.

It didn’t work out so well for Enron in the end.

Fast forward to today and there is Moral Hazard EVERYWHERE from Glencore to Trafigura to Deutsche Bank…all unwinding and imploding because they thought they were SO SMART.

Now we have an almost identical situation at a $90B market cap drug company called Valeant Pharmaceuticals. Today they came out and denied everything in a conference call (just like Enron did), but the evidence is mounting that the off-balance sheet entities were set up and structured to do the EXACT same thing as Enron’s…

1) Artificially boost sales

2) Hide questionable activities

3) Skirt regulators and auditors

4) Enrich senior management for running the con

Here are just a few of the articles with information and FACTS proving that Valeant was doing exactly what Enron was doing…just in a different industry and not quite as well.

The King’s Gambit: Valeant’s Big Secret

http://sirf-online.org/2015/10/19/hidden-in-plain-sight-valeants-big-crazy-sort-of-secret-story/

The Pawn Isolated: Valeant, Philidor and the Annals of Fraud

http://sirf-online.org/2015/10/25/the-kings-gambit-accepted-the-annals-of-fraud/

Is This Valeant’s “Enron” Org Chart?

http://www.zerohedge.com/news/2015-10-26/first-draft-valeants-enron-org-chart

For those of you that follow Clif High’s work…this has all the makings of the “insurance industry fraud issue” that had been in his data that would help spark the collapse so watch for this story to escalate.

May the Road you choose be the Right Road.

Bix Weir
www.RoadtoRoota.com



Source: http://blogdogcicle.blogspot.com/2015/10/bix-weir-alert-new-enrons-everywhere.html

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