Enron 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 your CFO 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
six more. Now do you see why a company with $62 billion in assets is declaring bankruptcy?