Forum Archive Index - June 2002

["Morgy" <morgy40@xtra.co.nz>]

I agree that there is more to come, though a soft landing would be nice Ben,
I think the putrification stage is only just begining, Typical yanks are
talking about making CEO's accountable & signing off the accounts (not of
course to include current or previous accounts but for next year. Everything
in America is negotiable, It can be packaged & sold to the consumer,
"Investor confidence" is the name of the package, yes there are some
problems but you can trust us, see what we might do. I doubt if anything
will get done and if it does, watch the lobbyist have those regulations
watered down as they have been to all securities regulations in recent
years.
If the yanks can put a lid on it & hide it away they will.


Morgy


----- Original Message -----
From: <ichi@ihug.co.nz>
To: <sharechat@sharechat.co.nz>
Sent: Saturday, June 29, 2002 2:48 AM
Subject: Re: [sharechat] Ben - market timing


> Ben Dutton wrote:
> >
> > The people that cooked the books in those companies
> > are criminals - they broke the law plain and simple.
> > I don't think we'll see many more high-profile incidents
> > like those two - I could be wrong but I do think that
> > the majority of companies are honest and report honestly.
>
> I have to disagree.  There are serious concerns about
> book-cooking at many companies (including market-darling
> Microsoft).  The scary thing about Enron and Worldcom is
> that until recently they appeared to be solid, reputable
> companies.  It's not so bad when some fly-by-night dot-coms
> bite the dust, but when blue-chips go belly up, it's time
> to get out the worry-beads.
>
> Hey, that reminds me of a joke.  Fifteen years ago, when I
> was a green investor, I gave my sharebroker $20,000 and told
> him I wanted to invest only in solid, blue-chip companies.
> Nothing risky.  So he put it all in Chase.  ROTFL.
>
>
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