"The Guys at Enron would have never done this"

Our state and federal governments have committed financial fraud so brazen and massive that even Kenny Boy would have shrunk from it, says Bill Gates.

“THE GUYS AT ENRON NEVER WOULD HAVE DONE THIS:” Bill Gates on states’ accounting flimflams. “The Microsoft co-founder and philanthropist said state budgets have received a puzzling lack of scrutiny and have been ‘riddled with gimmicks’ aimed at deferring or disguising the true costs of public employees’ health care and pension obligations, citing California’s ongoing budget crisis as an example of creative deficit spending and the subsequent cuts to education spending as an unacceptable cost.”

Related: Economists: State, local pension funds understate shortfall by $1.5 trillion or more. So will any of these flimflammers get to share a cell with a guy named “Spike?” Or is that just for business people that politicians don’t like?

HT