The ENRON Scandal Message Board

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Non-Tech : The ENRON Scandal

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To: Mephisto who started this subject	3/6/2002 3:07:51 AM
From: Baldur Fjvlnisson	Read Replies (1) of 5185

The Inside Truth cross-currents.net CHART DATA AS OF MARCH 3, 2002 A SPECIAL REPORT BY ALAN M. NEWMAN, EDITOR HD BROUS & CO., Inc.'s CROSSCURRENTS The most disheartening factors concerning the end of the stock market mania have been the many recent confirmations that the mania was just not possible without concerted efforts by key participants to coerce small investors by any means possible, including malfeasance, conflicts of interest and even outright frauds. As in the South Sea Bubble and other manias, a repeat of history. We maintain our position that Enron represents a watershed event, the only possible "new paradigm" that could have come out of the insanity that drove prices to levels that discounted impossible rates of economic and corporate growth. The new paradigm and new economy that professionals touted never was. And as we have shown in our newsletter commentary and charts in recent months and show again a few paragraphs below, investors have not benefited from participating in the mania. Question: who did benefit? Answer: the large Wall Street firms that pushed high flying stocks and initial public offerings at prices that defied reason, the analysts who parlayed their supposed skills into investment banking relationships that presented the worst conflicts of interest, and especially the insiders of some publicly traded companies that abandoned fair play in the quest to engineer earnings in order sell their own inflated shares acquired via options. The inside truth is that insiders have been selling shares at a pace that eclipses their purchases by a factor of more than 100! This mania can only end the way all prior manias have ended - with public distrust of the very professionals that coerced them into the madness the first place. Human nature is what it is and allows history to repeat....................

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