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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: Les H who wrote (150842)	2/12/2002 3:09:38 PM
From: KeepItSimple	Read Replies (2) \| Respond to of 436258

The really fun part is that this is how 90% of publicly traded tech companies operate. During the dot.com boom, ad-bartering provided 99% of all revenue in the industry, when in fact no cash ever exchanged hands. Just wait until the SEC backtracks and investigates some of those massive frauds. Insiders at yahoo, ebay, theglobe, pets.com, and EVERY OTHER GODDAMN DOT COM ON EARTH spent most of 1998-2000 running ad-barter swaps all day long. It was the only source of "revenue" available to them, since everything was given away free to internet users. ----------------------------- Asked by a Congressional panel Tuesday if he was aware of Enron's intricate and impenetrable accounting practices, former Enron Chairman Kenneth Lay, speaking through an attorney for a Caribbean subsidiary of a joint venture created with money from an investment partnership that was partially owned by an internal offshore hedge fund that originally acted as a shell corporation for a second investment partnership spun off from three separate private partnerships created with stock and options from the first partnership which enabled the fourth partnership to record losses unattributable to the Caribbean subsidiary of the joint venture corporation, refused to answer.

To: Les H who wrote (150842)	2/12/2002 3:18:17 PM
From: Les H	Respond to of 436258

Particular blame falls on Tokyo's decision, made under U.S. pressure, to liberalize the banking system in the 1980s -- a decision Japan's "structural reform" fundamentalists still view with great pride. Anyone who knew Japan could have predicted that, freed from close government supervision, the bankers would go berserk. The banking system became a conveyer belt of funds for gangsters, corrupt politicians and mad speculators. japantimes.com >>>The U.S. seems to have perfected the deregulation process. >>>Look at how many industries that are in great shape.