>>I have yet to hear you denounce the white collar scoundrels who fleeced investors. >>
and I have yet to hear you deny you wear women's underwear! so where does that leave you?
however, I think I am beginning to understand what your beef is with me. yes, I was supportive of the Fed raising rates back in 99. but I was critical of his lowering them in 98 and helping to cause the largest financial bubble in our history. did he go to far on BOTH ends of the spectrum? Perhaps.
However, that does not give you or any other investor the right to blame your financial woes on someone else.
For christ's sake, you were not investing in the late 90s by buying stocks. YOU WERE GAMBLING and playing the greater fool theory; bidding up stocks to multibillion market caps with little or no earnings is not investing, it is participating in a pyramid scheme. you got caught standing when the music stopped and now you are crying foul play. GROW UP!
Now, onto the enron scandal, and GX BK, yes, i do believe that was/is criminal and there should carry heavy punishments for such irresponsible actions.
for those that lost their life savings under such circumstances, I do not blame them, I sympathise with them(and for some odd reason, you think I was immune to that also, I wasn't. however my exposure was minimal)
there is no fine line between the enron deal and the piercing of the tech bubble. those who thought the stocks could go up indefinitely and one could double their portfolio accounts on an annual basis got exactly what they deserved. Do I feel bad for them? sure. I do not like to see people in pain, I'm not a sadist. but if you remained in denial and now looking for a scapegoat, I say now you are irresponsible and were too much the fool for not taking your profits when the fruit was dropping off the tree.
it is unfortunate you feel the need to lash out at me because you got caught holding the bag. But it's time you grow up and take this as a lesson learned and perhaps be a bit wiser in the future.
P.S. reading "cry baby" posts such as yours tells me there is still way too much froth remaining in valuations and since I believe we will not come out of this recession any time this year, I see equities falling much further before we can move onto a healthier market. |
