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> The debt not showing up where the author wants is a reporting formality not an attempt to hide it.

Couldn't you characterize Enron that way? The liabilities are there, you "just" have to look at Raptor II or whatever!

You couldn't just characterize them that way, they are using literally the exact same setup that Enron did in order to hide the massive amount of debt and liabilities they had that eventually sunk the company. People jumping in to defend this as being totally legit or not-fraud seem quite insane to me: companies should not be trying to hide these things to pump up their stock prices or to entice investors that otherwise might not see it.

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