gatt wrote:

People used to defend Enron. An electrician down the road from me that
worked for PGE--whom Enron acquired--lost his $330,000 retirement
investment.

Apparently, the Enron book-cookers were just smarter and had something they
the electrician didn't have. Nobody defends Enron anymore, but, at the
same time, nobody listened when a handful of people predicted disaster.
(People did the same with the dot com industry, but as long as people were
making money hand over fist, they didn't bother to listen.)


I don't defend Enron, but am also not entirely sympathetic to those who
"lost their whole retirement nestegg". I saw a lot of news stories about
these unfortunate folks, but never heard a reporter ask them the obvious
question. "Why would a sane person invest their entire retirement nestegg in
one company's stock?". Enron employees were not required to buy Enron
stock in their retirement plans. They did so because of one reason. Greed.
They wanted to make high double and triple digit returns on their investments
and threw caution and common sense out the window.

Enron was most definitely a scam, but common sense goes a long way towards
minimizing the effect of any one bad apple on one's retirement portfolio.

John Galban=====N4BQ (PA28-180)

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