In addition to banks and regions, Spain includes a $32B bailout of its power industry in its...

|By:, SA News Editor

In addition to banks and regions, Spain includes a $32B bailout of its power industry in its 2013 budget. In an accounting move worthy of Enron, power companies for a decade have been allowed to book more revenue than they actually received, driving their accounts receivable - along with the liability side of the balance sheet - sky high. Now the bill comes due.