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Strategies & Market Trends : Z Best Place to Talk Stocks

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To: Nemer who wrote (34991)11/26/2001 8:54:20 PM
From: Larry S.  Read Replies (1) of 53068
 
before you jump in, check out: Message 16705499
i particularly like the following quip from that article:
Enron's ways may have contaminated the whole market because, as we are frequently told, Enron was the energy
market, just as Drexel Burnham was the junk bond market in the '80s. In Enron's absence, many of the aggressive deals may have to be unwound. Meanwhile, auditors, in a frantic bid to cover their behinds, would start telling trading companies to be a lot more conservative in how much profit they book on forward deals. Suddenly, fat margin deals evaporate and earnings estimates get slashed. Checkmate -- for both sides.
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