Eliminate Enron accounting

Deseret News (Salt Lake City), Oct 13, 2008

In a court settlement, quietly announced on Sept. 9, J.P. Morgan, Citigroup, Bank of America, Lehman Brothers and others agreed to pay $7.2 billion dollars to Enron shareholders. Being the masterminds behind "Enron accounting," is it any wonder that these companies spent the last decade infecting the entire global financial system with Enron accounting? We are now witnessing the horrific -- yet completely predictable -- results.

The collapse will accelerate until lending resumes.

There will be no lending until there is trust.

There will be no trust until Enron-style accounting is eliminated.

Kenneth Moss

Cottonwood Heights