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

To: Mephisto who wrote (2870)	2/15/2002 8:02:25 PM
From: Mephisto	Read Replies (1) \| Respond to of 5185

Stocks Fall in Accounting Nightmare Fri Feb 15, 4:40 PM ET By Denise Duclaux NEW YORK (Reuters) - Stocks slumped on Friday as fears of improper accounting practices dogged companies ranging from corporate icon International Business Machines Corp. to technology upstart NVidia Corp. "Accounting and bookkeeping and finance ... are the raw material for Wall Street," said Michael Vogelzang, president of Boston Advisors Inc., with more than $1 billion in assets. "If the confidence in those numbers goes away or weakens, you're going to see prices go down." Traders headed to the sidelines ahead of a three-day holiday weekend -- the stock market is shut on Monday for the Presidents Day holiday. Investors are bailing out of stocks at the first hint of impropriety after a rash of accounting scandals that began with bankrupt energy trader Enron Corp. story.news.yahoo.com