Evil Short-Sellers and Enron

Along side Biovail and Overstock, this week’s Enron trial testimony provided another example of the evil that short-sellers do:

Testimony for the week ended Thursday with a potential bombshell when Kevin Hannon, former Enron Broadband Services executive, described how Enron Corp. leaders realized the company was in trouble in a May 2001 meeting at the downtown Doubletree Hotel.

The highest-level managers of the company, including defendants Ken Lay and Jeff Skilling, discussed an analysis of Enron published earlier this month by Off Wall Street Consulting Inc. that said the stock price should be valued around $27 per share, or roughly half the value at the time.

“They’re on to us,” Hannon quoted Skilling as saying.

Those bastard short-sellers, doing research and screwing up the Jeff, Andrew and Ken show at Enron. The nerve.

Related posts:

  1. Money for Nothing, and Your Enron Earnings for Free
  2. Overstock, Biovail, and the Trouble with Short-Sale Constraints
  3. Skilling: “You’re an FBI agent and you’re following me!”
  4. Excellent reading on hedge funds and short-selling
  5. Short-Seller Conspiracy Theorists