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

To: JBTFD who wrote (1893)	1/30/2002 6:57:08 PM
From: Mephisto	Read Replies (2) \| Respond to of 5185

." This alarming statement is representative of the accounting-driven focus of U.S. managers generally, who all too frequently have little interest in maintaining controls to monitor their firm's economic realities.>> I think trust will take a while to earn back when the public starts to understand more about the "financial engineering" tricks companies now use, legally. " Mark, it wasn't until the Enron collaspe that I understood how an accountant had used similar dirty tricks on us in the past. I knew there was something unusual, but I didn't understand it. The accountant became a certified financial planner so as well as doing people's income tax, he also advised them on stocks. And he was hooked up to a major brokerage house the area. It was a conflict of interest. I felt like he cheated us and the broker took advantage of us.

To: JBTFD who wrote (1893)	1/30/2002 8:08:41 PM
From: Karen Lawrence	Respond to of 5185

Investing is always a risk, but now it seems like a losing game. Over the last six years, investors have lost close to $200 billion in earnings restatements and lost market capitalization following audit failures. That -- along with other cases of high-profile accounting irregularities (such as at Waste Management and Microstrategy), the implosion of high-flier tech stocks and the Enron scandal -- has combined to call into question the strength of the fundamentals of our markets and market economy: transparency, accountability and trust.