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Thread: Investing for the unskilled investor.

  1. #26
    God/dess Eric Stoner's Avatar
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    Default Re: Investing for the unskilled investor.

    Quote Originally Posted by eagle2 View Post
    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. ?
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    The credit belongs to the man who is actually in the arena... who, at the best, knows in the end the triumph of high achievement, and who, at the worst, if he fails, at least fails while daring greatly, so that his place shall never be with those timid souls who know neither.
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    Default 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.
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    Default Re: Investing for the unskilled investor.

    Quote Originally Posted by Eric Stoner View Post
    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.

  6. #29
    God/dess Eric Stoner's Avatar
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    Default 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.
    A
    The credit belongs to the man who is actually in the arena... who, at the best, knows in the end the triumph of high achievement, and who, at the worst, if he fails, at least fails while daring greatly, so that his place shall never be with those timid souls who know neither.
    Teddy Roosevelt

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