Formerly About Applied Materials Message Board

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Politics : Formerly About Applied Materials

AMAT 261.90

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Dec 26 9:30 AM EST

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To: Sam Citron who wrote (59630)	1/29/2002 7:09:21 PM
From: Jacob Snyder	Read Replies (1) of 70976

re: Scandals like Enron tend to have a cleansing effect on the system Agree, completely. This kind of thing happens in all recessions. In good times, the pressure to "make your numbers" gradually induces a culture of lying in many companies. And they get away with it, till the next recession. Since me haven't had a really punishing recession since 1973-4, a lot of bad habits have built up. I'm really encouraged that this Administration hasn't stepped in, with Argentina and Enron. They could have thrown a ton of taxpayer money at the "crisis", to "restore confidence" and "stabilize the situation". As a result of doing that so many times in the past, in earlier administrations (both parties), a huge amount of Moral Hazard has built up.

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