The Enron Scandal - Unmoderated Message Board

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Non-Tech : The Enron Scandal - Unmoderated

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To: Raymond Duray who wrote (2998)	5/4/2004 12:28:09 AM
From: The Duke of URL©	Read Replies (2) of 3602

Neither of you Pontificates understand what is happening in the big picture. The "profit" of the exchange is drained out by the members. It is something like a publicly supported charitable organization where the money is diverted to individual expenses. Citi corp is a member. Some of the members make Billions from things like front running and off hours fund trading. Why do you think Citi brought back their ex CEO, Reed, from his Arab paradise to help quiet things down? Do you happen to remember when Grasso was adamant that the exchanged should not burden the brokers by staying open extra hours? In light of the mutual fund scandal do you still believe he did that because the corporations needed the rest? The only jurisdiction that Spitzer really has is that state charities can't pay their help too much under state law. Do you think that Grasso's pay is really the problem? Geesh.

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