| Subject: Re: Rush to judgement |
Author:
Rootbeer :o)
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Date Posted: 16:59:32 01/25/02 Fri
In reply to:
Ronlee
's message, "Re: Rush to judgement" on 17:49:52 01/19/02 Sat
Well actually no. I can't right off the top of my head. But thik about it. That could have been your retirement, my retirement, DGV's retirement. It's a matter of trust.
How much do you know about who is actually gaurding your retirement savings? And who do you go to to find out about these people...to the company itself. That did the Enron employees a lot of good didn't it? There isn't really any other way to check them out is there?
Rootbeer :o)
>>Oh I don't know Rootbeer. Can you name another
>instance where people were cheated out of the
>retirement. The only instance I can think of where
>people were hurt was the savings and loan debacle of
>the 80's. If I remember correctly those responsible
>were punished. With all the corporations doing all the
>business day to day in this country I have a hard time
>pointing an accusing finger because of this single
>instance. Let's not forget investigations are ongoing.
>Will the punishment be severe enough for swindling
>these employees, I doubt it. But it's the system we've
>got and while not perfect it's better then any
>alternative.
>
>The funny thing about wealth: when someone is gaining
>it, many people think it is at the expense of others.
>In most cases that's not true. People who run
>corporations and create wealth give back as much as
>they take. If you don't believe that go get a job from
>a poor person.
>
>
>Do you really beleive that Enron is the only
>>corporation out there cooking the books...That's the
>>problem with having mega huge corporations gobbling up
>>everything. It gets so bit that one hand doesn't know
>>what the other is doing. Enron is just an example of
>>that concept.
>>
>>And this call for more government regulation of...oh,
>>pick someone or department that's messed up in this,
>>there seem to be lots to choose from in this case...is
>>just about enough to make a person scream and pull
>>hair out by the roots. Yeah, let's get some bigger
>>entity that doesn't know what the guy in the next
>>cubicle is doing to regulate "it." What a joke.
>>
>>Rootbeer :o)
>>Let's just keep letting all of them trickle down on
>>us...like we have a choice or anything.
>>
>>> As reported on 700 WLW Saturday morning, Rush
>>>Limbaugh is defending Kenneth Lay. Rush says that Mr.
>>>Lay watched his personal holdings dwindle from 2.2
>>>billion to 130 million before the collapse. I don't
>>>see it. It seems to me the rewards of being the head
>>>of a huge corporation must come with certain
>>>responsibilities, at the very least accountability.
>>> Enron has collapsed and now before the dust can
>>>settle Mr. Lay is selling off assets, including two
>>>homes and parcels of land in Aspen, wonder where that
>>>money will end up, Caymen Islands perhaps?
>>> Of course Mr. Lay did not conspire by himself to rip
>>>off the employees at Enron. The accountants cooked
>the
>>>books, the brokerage firms sent out buy
>>>recommendations in spite of the impending doom and as
>>>the stock began to plummet our very own congressmen,
>>>on both sides or the isle, joined in the sell off,
>>>leaving the "blacked out" 401k'ers holding the bag.
>>> Some of this activity, especially the accounting
>>>practices, may prove to be illegal but most of these
>>>things are not.
>>> When the dust finally settles on the Enron collapse
>>>we may find this group of people did what Bin Laden
>>>could not, deal a terrible blow to the markets in the
>>>form of terrorized investors.
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