| Subject: Re: Rush to judgement |
Author:
Rootbeer :o)
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Date Posted: 08:03:39 01/26/02 Sat
In reply to:
Ronlee
's message, "Re: Rush to judgement" on 21:17:53 01/25/02 Fri
Obviously the answer is Billy. Does that mean that I'll be putting him on my hero list. Nahhh.
Rootbeer :o)
>>The Enron folks were sold up the river, no doubt. But
>from what I gather there were no guidelines confining
>them to Enron stock. The lesson is, diversify. The
>system isn't perfect but it beats all others, hands
>down. With that there is no arguement.
>Gets a person to thinking though; who was more
>responsible for the 90's boon, Billy or the book
>cookers.
>
>
>
>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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