Everyone Thinks They've Found The Next Enron
from the throw-a-dart dept
Apparently the game to play these days is trying to spot the next Enron. Like any fad, this one is getting out of hand too, as people who have no clue what they're talking about will pick on just about any stock to explain why it is likely to be the next Enron. I've said for years that you should never trust financial statements that companies produce - but that doesn't mean they're all complete shams. It might help if more people who were actually relying on these financial statements actually understood what they were relying on. People who invest seriously in companies without understanding basic accounting are only asking for trouble. Update: Well, now it seems that the US Government has realized that there are many clueless investors out there as well, and have resorted to putting up a hoax investment site to teach moron investors a lesson. Of course, instead of spending their time putting together fake websites, maybe they should have been investigating companies like Enron...
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Safer?
I think in the long run, McWhortle Enterprises Inc. is probably the safer investment!
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Prevention better than cleaning up afterwards
I think the fake site is an excellent educational tool. Their job is to protect investors and by waking up the more gullible they not only look after the savings of hard working people but have to throw less money at law enforcement and lawyers with a slim chance at prosecution. Not sure what they could do about Enron when it had the private protection of the President. Another company *was* investigated and found to have broken numerous laws, but because BillG is George's friend he is above the law hence no punishment. Anyway, with all the computer academics being thrown in jail I'm not sure there will be space for mere fraudsters.
Phillip.
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