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Strategies & Market Trends : John Pitera's Market Laboratory

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To: macavity who wrote (6351)	6/27/2002 12:46:47 AM
From: Raymond Duray	Read Replies (1) of 33421

macavity, Re: You are forgetting that Bill Gates and Scott Nealy both commented that they stocks were overvalued. No. I never forgot that. It was not salient to argument. What is more germane is a discussion of the horrifying results that came out of Wendy Gramm eliminating accountability for Enron's proprietary derivatives trading swindles just before she moved from the chair of the CFTC to the Board of Enron. Also germane is the asinine passage of the PSLRA in 1995 that is now being argued to absolve individuals who in a normal legal climate would be criminals being allowed to skirt justice by some very fancy manuveuring in Congress, which with the acquiescence of some traitors to the American people like Sen. Chris Dodd overturned President Clinton's veto of one of the most morally, ethically and practically wrong bills of the last decade. I say practically because the PSLRA has permitted a stupidly self-destructive hubris to overwhelm good sense in U.S. capital markets. The results of this hubris and larceny are just now becoming appparent. The rest of the world is beginning to think we're simple crooks, and highly hypocritical and high-handed at the same time. Re: But if something is illegal people should be sent to jail The shameful fact about the American jurisprudence system is that it has been corrupted by the lobbyists buying off key legislators and writing laws that reflect the criminal mind of the likes of Ken Lay, Joe Berardino, Phil Purcell and all the other cancers upon our society. Money has ruined our politics, and our judicial system. Results will be predictable. The ever increasing need to enforce fascist methods in order to keep the "right people" in power and cram down this illegitimate regime on the cowering American populace. -Ray

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