Reliant

Reliant has made its bid to do Enron one better. The company has restated its earnings for the past 3 years, "discovering" (while under investigation) that it had overstated the value of (sham) trades by $7.8 billion!

Let me emphasize that last: $7.8 BILLION

Do you think investigators will be swayed by, "We had to pay for the Texans' Stadium sponsorship SOMEHOW?!" I'm guessing not.

[Posted at 17:40 CST on 07/05/02] [Link]