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Politics : American Presidential Politics and foreign affairs -- Ignore unavailable to you. Want to Upgrade?

To: haqihana who wrote (3736)	2/7/2006 3:33:17 AM
From: Peter Dierks	Read Replies (1) \| Respond to of 71588

Fraud is very difficult to detect. People who do not understand how companies are regulated and audited place elevated expectations for detection. Enron was only one of the bad ones. It was an energy company that had profited from California's stupidity which made it easy to attack. It was a Texas company with some ties to President Bush, so it was chosen by the anti American Press Corpse to get the publicity. Lots of companies were getting lofty stock prices. Mundane ones were losing good executives to the bubble start ups. There was intense pressure on all of American public companies to perform at high returns or growth. Enron used fraudulent partnerships to hide the liabilities. It was an easy target for partisans that wanted a front page story. Why wasn't Global Crossing the poster boy for bad behavior? Clinton crony Mack McLartey was allowed to invest in it when they were not accepting new venture funds. He used the Clinton influence to buy in at bargain prices, and flipped it for a huge gain after they soon went public.