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To: paul_philp who wrote (51971)	7/10/2002 2:31:03 PM
From: chaz	Read Replies (2) \| Respond to of 54805

Paul... The WCOME fiasco has revealed at least one needed rule change...401(k) sales rules lock shareholders. If this rule is to stand, then we need to add that no insiders may sell during the period that 401(k) holders are locked. It would be very difficult for me to damn those World Com workers who didn't read any SEC filings. Many of them I'm certain had no idea about how to read them. They trusted their boss, who betrayed them. Would management be more honest with workers if it was required that management simultaneously announce to all workers (or 401k participants, if you wish) it's insider filings with the SEC? Can anyone here give me a truly valid reason why such a requirement as this would be unreasonable? Chaz

To: paul_philp who wrote (51971)	7/10/2002 5:45:41 PM
From: EnricoPalazzo	Respond to of 54805

The scandal is NOT that companies cheated but that the entire investment world stop reading financial statements with rigour and skepticism and now wants to pass blame on the closest target. Indeed. A recent slate article made the astute point that just a few years ago, the general feeling was "individual investors are doing very well because they're ignoring the dumb analysts", and now it is "individual investors did poorly because they listened to the crooked analysts".