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Politics : High Tolerance Plasticity -- Ignore unavailable to you. Want to Upgrade?

To: Raymond Duray who wrote (9948)	10/25/2001 10:00:51 PM
From: kodiak_bull	Read Replies (1) \| Respond to of 23153

Raymond, Well, Milken and DBL got the short end of the stick (you can spell "short" in the alternative way) in my most humble opinion. Technical noncompliance and barefisted business was their methodology, but they invited the envy and hate of the houses of Morgan and Goldman, so they were toasted (and I don't mean anyone raised a glass of champagne to their good health). The securities industry year after year engages individually, by company and en masse in sins of comission and omission which are much more serious than the stuff Milken and Drexel got nailed for. The result, fines, wrist slaps and nolo contenderes. It's a private club up there in the stratosphere, no doubt about it. I had breakfast with Corrigan (it was Gerald, as in E. Gerald, or Jerry; not William, btw) and I can tell you I was not too impressed with His Irishness. Like many a highflyer I have met in my life, you kind of wonder who was the guy's godfather in his rise, and why he was protected in his spot. One guy I met was totally unimpressive (Tokyo branch of a bulge bracket firm), yet he was consistently promoted despite his obvious incompetence (to partner and then management committee). Why? Well, one can only speculate that the powers that be like having a guy who was nonthreatening represent that part of the firm. I tried to sniff around to find out how folks like ENE trade with each other and found no real good information. If JimP were here, he'd tell us in a nanosecond. Of course I could slog through their annual report, but that would be work and I'm working on other fish at this moment. As it is, the stock, ENE, did a reasonable impression of a dead cat bounce, then closed down softly on 39 million shares of volume. When I look at this chart I see more downside than upside, more dead cat than dead cat bounce. stockcharts.com[h,a]dbclyimy[pc25!c50!c200!i!d20,2!f][vc60][iUb14!Uk14!Lc3!La12,26,9!Lp14,3,3!Lg]