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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: MoneyPenny who wrote (89164)	9/14/2007 9:58:17 AM
From: ChanceIs	Respond to of 306849

>>>I'm pretty sure it was intentional. He was in enormous trouble here...jail was almost a certainty.<<< This is a great human tragedy of course. However I am an investor and I need to look at things objectively. Back in the Enron/merchant generator meltdown, there were four suicides of senior managers of which I am aware. They tend to come out in the seventh inning - after the press headlines are nothing but scandal, government bailouts, cries about the absence of regulators, and state AGs sharpening their knives and drooling about their upcoming great press to aid their gubernatorial ambitions (see the Ohio AG for example). If this meltdown is like the merchant generator one - again another one spawned by loose lending and lax regulation - electricity trading was new, and the government never bothered to structure the markets properly - then we would be in for another six months of rather steep stock price declines, followed by eighteen months flopping around in the bottom of the boat like a flounder. Again, I loath cynics and strive to be a person of higher spiritual values. My job as an investor is to take precious seed corn away from those who don't deserve it (go short) and assign it to those who do (go long). Often we don't see the fraud until after the top has blown off a bubble. It is getting caught in fradulant/criminal acts which lead executives to make the horrible suicide decision. On a brighter note....back in the Japanese meltdown, I read that one former Japanese CEO took to waiting tables. I don't think his company's failure was his fault, but he took it that way. he wanted to humble himself, and wouldn't take the easy way out through suicide. Bless him. In America, when CEOs fail they quite often go next door to a new CEO job - see Brian Hunter/Amaranth and John Merriweather/Long Term Capital Management - unless of course they were involved in criminal activity. Martha Stewart is a horse of a different color.