Dark Capital · DC-050
HE APPROVED THE METHOD IN JANUARY. THE PETITION COVERED GAS CONTRACTS ONLY. THEY APPLIED IT TO EVERYTHING.
On January 30, 1992, Titan Energy Corporation received SEC approval to use mark-to-market accounting for natural gas contracts, enabling them to book estimated future profits immediately. By 2001, this practice evolved into marking to market on unregulated projects that led to the company's $63 billion collapse.
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