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Gold/Mining/Energy : Enron - Natural Gas Industry -- Ignore unavailable to you. Want to Upgrade?

To: James Calladine who wrote (723)	11/27/2001 10:52:08 AM
From: Bob Rudd	Respond to of 1433

O.T. James Calladine<<I believe we are in a phase now that more or and more people are seeing the extent of the scam that is the stock market, starting with financial statements a la enron and going on from there>>Bear markets DO cause more people to perceive 'Scam' in the markets...but I don't believe that Enrons financials are typical. I think Arthur Levitt made tremendous strides as SEC head in improving the clarity and accuracy of financial statements and the fairness of markets [Reg FD passed despite strong opposition from industry heavyweights]. I'm highly doubtfull his successor, Mr. Pitt, will carry on this tradition...I suspect setbacks for reg FD and possibly other Levitt reforms are ahead, but would be very pleased to be proven wrong.

To: James Calladine who wrote (723)	11/28/2001 1:04:05 AM
From: Raymond Duray	Read Replies (2) \| Respond to of 1433

Hi James, Re: Because the parties who benefit the most from the "scam" aspects of the market are heavy contributors to both major political parties I think it is a safe bet that NOTHING substantive will happen for quite some time. If ever! Clearly, there will be no relief for the individual investor prior to the 2004 election cycle. The only hope that the little guy might have, and this is too dire to contemplate some days, is that the markets deteriorate to such an extent that there is a near complete loss of faith in the game. Only then will a new administration, driven as the FDR team was in 1933 by a reforming zeal and the will of the nation behind it, to do something dramatic and useful. I'm not holding my breath. Far too many of the little guy investors are simply going to continue to watch Monday Night Football and never know where their 401(k) went. As far as the insiders' knowing in advance that DYN would be repricing, well, that's where the TA types have an advantage over those in the public who hover over the delayed news sources hoping to get ahead of the curve. The public can never win the information game, but can sometimes deduce the move from the tape. -R.