u/Throwawayaccount4677

An auditors view on Burry “Fugazi” transactions

https://x.com/0xSammy/status/2061341557035348458

Worth reading as it shows where cash is going and what the real questions are I will quote the final bit

auditors need to test whether the sale is overstated by the $1.9bn round-trip, and apply extra scrutiny to the unobservable Level 3 inputs

I’d hate to be the Audit partner signing these transactions off particularly given the public interest and frequency of similar transactions

- because this is exactly the type of mess that brought Arthur Andersen down when Enron collapsed.

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u/Throwawayaccount4677 — 1 month ago