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| Enron | |
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| Tweet Topic Started: May 25 2006, 10:20 AM (262 Views) | |
| cmoehle | May 25 2006, 10:20 AM Post #1 |
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Chris - San Antonio TX
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Kenneth Lay guilty on all charges is what I'm hearing. If so, rule of law prevails over selfish greed. |
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Politics is the art of achieving the maximum amount of freedom for individuals that is consistent with the maintenance of social order. --Barry Goldwater | |
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| cruiser | May 25 2006, 12:15 PM Post #2 |
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Fastow, the CFO who put twenty million of company money in his pocket, copped a plea to get a lesser sentence. He implicated ten or more people who are doing time or will be doing time. When he gets out, he had better watch his back |
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Men never do evil so completely and cheerfully as when they do it from a religious conviction. Blaise Pascal (1623 - 1662) | |
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| cmoehle | May 25 2006, 02:06 PM Post #3 |
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Chris - San Antonio TX
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Skilling guilty too. |
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Politics is the art of achieving the maximum amount of freedom for individuals that is consistent with the maintenance of social order. --Barry Goldwater | |
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| TexasShadow | May 25 2006, 02:12 PM Post #4 |
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Jane
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I don't care if either one of them spends a day behind bars, but the courts should order them to pay back enron investors to the tune of every dime they have |
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| roscoe | May 25 2006, 02:22 PM Post #5 |
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Member
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Mansion for sale in Floridora. Cheap. |
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| cruiser | May 25 2006, 03:04 PM Post #6 |
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Roscoe, my house in florida is not for sale!
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Men never do evil so completely and cheerfully as when they do it from a religious conviction. Blaise Pascal (1623 - 1662) | |
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| roscoe | May 25 2006, 05:24 PM Post #7 |
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Cruiser The Other one.
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| cruiser | May 25 2006, 06:00 PM Post #8 |
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Roscoe The other one is my RV and she ain't for sale, until diesel hits 4$ per gallon. |
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Men never do evil so completely and cheerfully as when they do it from a religious conviction. Blaise Pascal (1623 - 1662) | |
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| roscoe | May 25 2006, 06:41 PM Post #9 |
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Member
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Sorry Mr. Lay but it kinda looks like you won't make the $4.00 mark on the outside. See ya next century.
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| tomdrobin | May 25 2006, 10:20 PM Post #10 |
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Member
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I believe they both are as guilty as OJ. But, wonder how easy it would be to get a fair trail with all the news coverage on the Enron scandal, and particularly in Texas, where a lot of people got hurt financially. There are constantly stories in the news about people who lost all their 401K money when the stock tanked. And, investors were misled as to the financial health of the company. But, to have all your money in one stock, and that being your companies stock is not sound investing. It is driven by the belief that the bubble will never burst without warning. Aren't those who lost all that money a little bit to blame for being greedy and looking for unreasonably high returns? Kind of like playing in Vegas IMO. |
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| cruiser | May 26 2006, 07:28 AM Post #11 |
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Tomdrobin, every financial adviser that I have ever heard of STRONGLY advises to not put all your money in one basket. A friend of mine who is an adviser says " bears make money, bulls make money, but pigs loose their ass". |
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Men never do evil so completely and cheerfully as when they do it from a religious conviction. Blaise Pascal (1623 - 1662) | |
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| ngc1514 | May 26 2006, 08:11 AM Post #12 |
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True, but leaves out the fact that the company matching in Enron's 401(k) - Enron matched 50% of the first 6% of employee contributions - were in Enron stock and that stock could not be sold until the employee reached 50 years of age. |
Eric
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| passinthru | May 26 2006, 08:54 AM Post #13 |
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John - Gainesville, FL
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There are company 401k's that are very restrictive as to their investing, many times only in their own stock. Guess they think the employees will work harder if their future is tied to the company. |
| Faster horses, younger women, older whiskey, more money... | |
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| cruiser | May 26 2006, 03:59 PM Post #14 |
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I guess after thinking about it, you guys are right. 401k's that are restrictive to company stock should be closely examined by the feds to be sure that they are financially sound. The company that I retired from gave us the 6% and quite a few fidelity funds to chose from. |
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Men never do evil so completely and cheerfully as when they do it from a religious conviction. Blaise Pascal (1623 - 1662) | |
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| bikemanb | May 27 2006, 06:18 AM Post #15 |
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Liberal Conservative
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Eric's point about restrictions on selling the company stock match is correct, these people were trapped like rats on a sinking ship and are true victims. Look at the disruption of the CA energy market these guys created to drive prices, this wasn't about making an honest buck, it was about the fleecing of their fellow Americans for personal wealth and ambition. |
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Bill, Rita and Chloe the Terror Cat For having lived long, I have experienced many instances of being obliged, by better information or fuller consideration, to change opinions, even on important subjects, which I once thought right but found to be otherwise. Benjamin Franklin | |
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1:03 PM Jul 11