Re: Investing for the unskilled investor.
Quote:
Originally Posted by
eagle2
No they don't, at least not until billions or trillions of dollars were lost. At its peak, Enron was worth $70 billion.
OK. They get caught eventually.
Enron was an extreme case. There were warnings but most were ignored. Same for Bernie Madoff. Ken Lay died before he could be convicted. Jeff Skilling was convicted and did 14 years. Madoff pled guilty and died in prison.
Show me a country that is more vigilant and requires greater transparency than the U.S. ?
Re: Investing for the unskilled investor.
There is risk in everything, you learn as much as you can and go from there. No sense in turning this into a battle.
Re: Investing for the unskilled investor.
Quote:
Originally Posted by
Eric Stoner
OK. They get caught eventually.
Enron was an extreme case. There were warnings but most were ignored. Same for Bernie Madoff. Ken Lay died before he could be convicted. Jeff Skilling was convicted and did 14 years. Madoff pled guilty and died in prison.
Show me a country that is more vigilant and requires greater transparency than the U.S. ?
This is my last comment on the issue.
Trillions of dollars were lost in the 2008 financial crisis, and I don't think a single person was convicted of a crime.
Re: Investing for the unskilled investor.
I understand that you might be trying to avoid an argument.
If you go back while the Financial Crisis was happening and read what Melonie, I and others posted at the time it was clear that there was plenty of blame to go around. The banks, mortgage agencies, rating agencies and the borrowers themselves all share the blame . Imho (then and now) it was Fed and Federal government policy that encouraged people to borrow money that they clearly could not afford to pay back. The only thing holding up the house of cards was increasing real estate values and once they started dropping the whole thing collapsed.
Were there "crimes" commited ? I don't know. Holder was the A.G. at the time and I don't remember any high profile prosecutions.