Enron had non discount mbt shoes financial statement, complex business model. Enron was reporting cash flow and asset values inflated and kept significant liabilities off the books.Unlike Goldman best hair straightener and Merryl Lynch who reported only brokerage as revenue, Enron reported the entire value of each of its trade as revenue. This resulted in very inflated revenues. Billions were lost in pension funds and stock prices. Many hair straightners were sentenced to prison. The share holders recovered negligible amounts in law suits. The sentences were overturned by Supreme courts. Enron share holders lost huge sums.It was argued that Enron was not an agent but a timberland sale and merchants assume risk in buying and trading.