Five of the biggest US tech giants are carrying $1.65 trillion in debt that does not show up on their balance sheets, more than the debt that does. It is bankrolling the AI data-centre boom, it is perfectly legal, and it uses the same accounting trick that brought down Enron.
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I’m no expert, but maybe this “accounting trick” shouldn’t be legal?
I mean with capitalism and citizens united, accounting tricks are the law.
*corruption is legal
Yeah, but the people who write the laws are the ones who directly benefit from these loopholes. They’re not going to saw off the branch they’re sitting on.
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