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

To: greenspirit who wrote (1255)	2/4/2002 4:55:15 PM
From: Raymond Duray	Respond to of 3602

Michael, When engaged with an irrational debater, what would you recommend that I do? Act as if the person is playing with a full deck? -Ray

To: greenspirit who wrote (1255)	2/4/2002 5:02:47 PM
From: James Calladine	Read Replies (2) \| Respond to of 3602

Let me join the discussion: In my opinion, there are many areas of near-fraudulent (or fraudulent) activities on a widespread basis in the U.S. markets, including: -- accounting standards that are widely circumvented -- pro-forma accounting -- conflicts of interest in auditor consulting versus auditing -- management feathering its nest to the detriment of shareholders -- the huckster activities of sell-side analysts -- the almost total inaction of the SEC -- the use of corporate contributions to achieve business aims through both major political parties That is just a short list. Many of these issues are coming to the fore publicly because of Enron, but there are other related examples such as XOXO and GX. Very likely there will be others. It is the role of government to establish the requirement for honesty in the markets, and the enforcement of the standards set. The government has failed on both counts. This is not an observation about one political party, but BOTH. At root is a group of legislators who are more beholden to those that elect them (LARGE CORPORATE CONTRIBUTORS), than the population at large. In total, that is a terrible situation, which should not just be categorized as something like the natural workings of the capitalist system. Namaste! Jim