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

To: Raymond Duray who wrote (4037)	5/21/2002 12:45:01 PM
From: Baldur Fjvlnisson	Read Replies (1) \| Respond to of 5185

Ray, well the main significance must be the willingness of foreigners to continue financing America's massive trade deficit. And the rate at which bad paper is being burned in debt and equity these days must give them some second thoughts. In 1929 great concerns arose as to the probity of major U.S. corporations and institutions. And the market crashed. Then like now the accounts didn't mean terribly much but it didn't really matter because companies paid very high dividends. Now that is down to 1.3% or so for the broad market. Underscores the general worthlessness of this market. Regards, BF