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Non-Tech : The ENRON Scandal
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To: Baldur Fjvlnisson who wrote (4038)5/21/2002 12:54:12 PM
From: Raymond Duray  Read Replies (1) of 5185
 
Hi Baldur,

I had an interesting article sent my way. This might be of use to you:

Message 17489816

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The analogy to 1929 is becoming clearer all the time. The outright corruption and dishonesty of the system is coming into clearer focus for many observers. The inability of the market to self-regulate is also perfectly apparent. In the 1929 episode, suitable regulatory mechanisms to try to instill investor confidence weren't legislated until 4-5 years after the crash. I don't think it will be much different this time. As long as the Bush team is in charge, we won't get any meaningful reform. It's going to be a dull whipsawed market for a long time. Boring stuff.

-Ray
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