Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: E. T. who wrote (220269)	1/20/2002 10:18:18 AM
From: Tom Clarke	Read Replies (3) \| Respond to of 769670

The first casualty of the Enron scandal might be the Bush bashing economics columnist for the NY Times, Paul Krugman. Andrew Sullivan sums up the sordid saga. andrewsullivan.com

To: E. T. who wrote (220269)	1/20/2002 11:09:06 AM
From: gao seng	Read Replies (1) \| Respond to of 769670

Enron CEO (and Clinton's golfing buddy) is not the only corporate officer who sold stock at the top. And, Enron will not be the only company to go under in this recession, as you wisely point out. Next time, vote Republican.

To: E. T. who wrote (220269)	1/20/2002 11:25:18 AM
From: greenspirit	Read Replies (3) \| Respond to of 769670

I once met a person who didn't understand when you wrote a check, money came out of your bank account. In other words, she repeatedly bounced check after check until she realized checks were not actually money. Shall we only allow 20 checks given out at a time because of someone like her? The same is true of people who got burned by investing in one stock 'Enron'. CEO's, the President, the government or anyone else cannot protect against ignorance. You learn from making mistakes. The good which may come out of this Enron episode is people will be more aware of their level of diversification and act accordingly. I reject the assumption that most people are ignorant and cannot handle their retirement money. We shouldn't dumb down the nation by making policies aligned to the least common denominator among us. Message 16936273

To: E. T. who wrote (220269)	1/20/2002 11:36:34 AM
From: greenspirit	Read Replies (3) \| Respond to of 769670

I remember about 20 years ago I ventured into stock investing. I was in my early twenties at the time and took practically all of my savings and dumped it in one stock. I lost about 70% of my money over the next 12 months. It never dawned on me that I should blame someone for this decision. The victim mindset of Enron employees is pathetic. If something illegal took place that's one thing. But I refuse to feel sorry for stock investors who made decisions and lost money. Is the government going to bail me out when I make a poor trading decision? Shall we get rid of the ability to trade stocks because some ignorant person might make a mistake? Why don't we just turn the entire market over to the wonderful government. In this way we can all be protected from ourselves....

To: E. T. who wrote (220269)	1/20/2002 12:00:50 PM
From: greenspirit	Read Replies (2) \| Respond to of 769670

This issue highlights one of the great divides we have politically in America today. Bush said it best during the election when called on us to embrace a new vision. "The responsibility era". Democrats see practically every issue, and every electorate as a kind of a "victim". How were they victimized today? What greedy company, corporate CEO, lawyer, school, parents, or policy "victimized" these poor people? This kind of a mental models breeds a kind of dangerous person. The Taliban American was a "victim". The people who lost their life on 9/11 were "victims" of American foreign policy. After all, those Muslims who rammed an airplane into the faces of little children were "victims" of our misplaced Israeli policies. Enron employees were "victims" of greedy management who took advantage of them. This kind of mental model is dangerous because it turns victimhood, into victimhood government policies. "We must now limit 401K distribution because of Enron". We must stop acting in our best interest as a nation in regard to foreign policy because someone might take offense. We must not give control of part of our social security to individuals because they are just poor helpless "victims" who will make stupid decisions. Living a life of "I am a victim", is a deterministic paradigm which should be rejected by us all. In the course of human events their are true victims, (car crash victims, people who are born with serious disabilities, those who lost their life on 9/11)) and we shouldn't mitigate their suffering by lumping stock investors in with them.