stackyFACTSThey literally counted 'projected future profits' as current cash on hand, allowing them to look like financial wizards while the company was secretly a smoldering crater of debt. The audacity was almost as impressive as the resulting prison sentences.
Keep exploring facts in this topic.
Economy →STACKY FOR IPHONEKeep discovering with Stacky. Interesting facts in an app that is always within reach.
Swedish match king Ivar Kreuger controlled over two-thirds of the entire global match production in the 1920s by lending massive sums of money to desperate…
Discover more
The bedrock of modern corporate anxiety was laid down by a monk who just really liked doing math. Luca Pacioli, a Franciscan friar in the 15th century,…
Discover more
Brides terrified of looking unpopular routinely pay strangers to stand at the altar, memorize complex fake backstories, and pretend they have been closely…
Discover more
International trade finance relies heavily on warehouse receipts acting as rock-solid collateral. In 2014, traders in the Chinese port city of Qingdao…
Discover more
Fraudsters promise incredible returns by just taking funds from new victims to pay the older ones. The entire house of cards stays standing solely on the hope…
Discover more
The IRS recognizes giant flightless birds as totally normal depreciating assets. For farmers breeding them, ostriches are treated exactly like tractors or…
Discover more