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To: maceng2 who wrote (2546)11/7/2002 6:48:41 PM
From: Lazarus_Long  Read Replies (1) | Respond to of 6901
 
What you are seeing here is the normal aftermath of a bull market. Except this was not just a bull market; it was that rare bird called a bubble.

I remember thinking in '97, '98, '99 that there was going to be hell to pay once the bubble burst. Clearly corporations were manipulating the numbers. What else was "pro forma earnings" about?

And clearly corporations were in a race to produce the best numbers. Without real outside policing (and often even with it), that leads to lying.

And greed was good again, remember? So you're surprised at theft?

Now if you really don't like this sort of things, you can try Communism. But be forewarned: that has some undesirable side effects of its own. Ask the Russians and Chinese.