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

To: CountofMoneyCristo who wrote (306)	1/16/2002 5:28:18 PM
From: joseph krinsky	Respond to of 3602

Hi Count- I agree that we need to look at the regulatory agencies. They are there to protect, and IMO they are not doing their jobs. Whether that is by design or by accident, I have no idea. But IMO they are failing. A crook is a crook no matter what company they work for, and no matter what exchange they are on. In addition, the accountants knew they were doing something wrong, they're not plumbers with no accounting knowledge. Enron's fini's weren't the first time they ever looked at a balance sheet, an income statement. If the governemnt allows things like this to continue, then eventually there will be no markets, because people will lose confidence in the system. Crime can't be avoided, some people just would rather make a dishonest buck than an honest one, but if that way of thinking becomes the norm, then we are doomed. The securities laws need to rewritten to reflect the time period and economics of today. They are 70 years old and out of date.