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Non-Tech : The ENRON Scandal -- Ignore unavailable to you. Want to Upgrade?

To: Mephisto who wrote (47)	1/11/2002 12:01:54 AM
From: pompsander	Read Replies (4) \| Respond to of 5185

As some of you know who have corresponded with me on other threads, my career is in pension fund management. I work in all sides: Investment, administration, consulting, legal and Trusteeship. One of the reasons there is intense interest in the developing Enron spectacle is that the retirement plan aspects (both 401(k) and defined benefit) are harrowing examples of one of the great dark fears millions of Americans have....that their retirement security will be lost through no fault or action of their own. Imagine the agony as all the promises made to you by your employer about the security of your investment choices in the company stock go up in flames....and there is nothing, nothing, you can do but watch. Meanwhile that same management team which assured you of the security of the investment choice in company stock cashed out millions in options. Other than the physical safety of ourselves and our families, and possibly our medical health as we age, what greater fear and dread do we, as a society, have than to be "penniless" in our old age? Every single Enron senior management employee should be investigated thoroughly as to what he and she knew, when they knew it, what they disclosed, to whom, and when. Then, every single arrogant individual who had any fiduciary control over those pension funds should be tried to the full extent of the law. Speaking only to the retirement plan aspects, this is a crime and cannot be allowed to stand. Every day just brings more disgusting revelations. Bush's whitewater? There will be far more interest by the American public in this case than there ever was in what turned out to be a silly little land deal gone wrong.