Prof G Markets · Friday, October 2, 2026
Steve Eisman raises concerns about "off-balance sheet shenanigans" in the AI and data center world, suggesting companies are using these tactics to preserve credit ratings. He draws parallels to past financial scandals like Enron, expressing dismay at the practices and the apparent reliance on auditor's comfort.
“the reason why they're doing some of these off balance sheet shenanigans is the best way I could put it, is they're trying to preserve their credit ratings as much as possible. So if you can get it off balance sheet, it's like poof magic. It doesn't exist.”
“um i've seen this movie before you've been in that movie before i've been in that movie so i'm kind of appalled i mean there was there's a um meta did a last year did an almost $30 billion deal where they're building a data center in Louisiana.”
“What the auditor is really saying is, we really don't know if this thing should be off balance sheet or not. We probably think it shouldn't, but Meta told us that it's okay. We're really nervous about it, but Meta said, chill, bro. And so we said, okay, we chilled. And that's basically You know, that's what happened in Enron.”