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.

Technology Stocks : All About Sun Microsystems -- Ignore unavailable to you. Want to Upgrade?

To: Charles Tutt who wrote (47233)	2/4/2002 7:21:11 PM
From: John Koligman	Read Replies (1) \| Respond to of 64865

Charles, I've been fortunate to avoid the tech debacle because I became a shorter and shorter term trader as the bubble inflated, and because I cut my stock market teeth during the f1973-1974 bear. The point is, unless you are a crackerjack forensic accountant (and possibly not even then), the deck is really stacked against the average investor. Whether it's WCOM 'covering' Bernie Ebbers for a 183 million dollar margin loan, or CEO's 'returning' stock to avoid detection, I frankly think there is way too much legal 'slime' out there that people are left to 'slip' on. Regards, John

To: Charles Tutt who wrote (47233)	2/4/2002 8:01:56 PM
From: John Koligman	Respond to of 64865

I tend to agree with you in the case where Enron employees dumped everything into Enron stock. Not the first time that has occurred for sure. I saw exactly the same thing at IBM. Until the late 1980's Big Blue was 'a job for life', and many folks I knew also put their retirement bucks into the stock. When things hit the fan, it was a double whammy for many of them when IBM hit a split adjusted 10 bucks a share in 1993 and lots of stockholding lifers were being asked to leave. Some panicked and dumped their stock right at the bottom. It's just that I get pissed off when I see these slimeball corporate 'officers' pump up their firms time and time again while employing every trick in the book to dump stock. To add insult to injury, when they are wrong they get the 'firm' to cover their margin?? With the obscene amounts of money most of them make, it's really a shame. As for the SEC, well it's now run by a guy who made the big bucks off the 'Big Five' accounting firms. Besides, didn't he say just a couple of months ago that there is 'nothing rotten in the accounting profession'??? Levitt tried to change things and was slapped down... John