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

To: Baldur Fjvlnisson who wrote (3963)	5/6/2002 12:55:39 PM
From: opalapril	Read Replies (1) \| Respond to of 5185

The stench from Wall Street will only grow worse, IMO. Here's another field for plaintiff's lawyers to plow: Senior partners at brokerage houses who privately invest on the side in hedge funds. Often the brokerage house is pounding the table for a stock which the hedge funds are shorting.

To: Baldur Fjvlnisson who wrote (3963)	7/7/2002 1:37:58 PM
From: Mephisto	Respond to of 5185

How Corrupt Is Wall Street? " The damage goes way beyond the tattered reputations of the firms and their beleaguered analysts. The entire economy depends on the financial system to raise and allocate capital. And that financial system, in turn, is built on the integrity of its information. Should investors lose confidence in that information, it could deepen and prolong the bear market, as wary investors hesitate to put money into stocks. And it could easily put a damper on the economy if companies are less willing--or less able--to raise capital on Wall Street. "One of the precious things we have is the integrity of the financial markets. If that changes it could have dramatic repercussions on the dollar, on domestic inflation, on the economy," says Felix G. Rohatyn, former managing director of Lazard Freres & Co." Excerpt from, "How Corrupt Is Wall Street? " New revelations have investors baying for blood, and the scandal is widening aol.businessweek.com >>>>>>>>>>>>>>>>>>>>> Badur, you posted that message in May!!! We may have seen the tip of the iceberg only. Last Sunday's NYTimes mentioned how wealthy investors would meet up with their analysts at parties and pass information to each other. They actually call some of these parties, "charity events." At one party, an analyst was seated at a private table with other guests who were ALL HIS CLIENTS! And Bush wants us to believe that he didn't know Harken Energy was going down. Or that Enron was in trouble! (LOL)