Well, I know there are more than a dozen reasons why things weren't changed at certian points along the way, but the one overriding idea is that a free market corrects itself. Enron failed because it was not playing nice with the market. Some people noticed, but either did nothing or were not in a position to do anything. So what happened? The darwinish free market left it by the roadside after it was gutted. Enron is still alive and kicking, but no one is rushing to their aid - everyone is busy analysing things and fixing (or covering) weak points in their own business so the market doesn't eat them up as well. You'll find that history repeats itself, and like a sine wave everything goes up and down. It's far from a stable system, but it isn't oscillating wildly either, and is (by and large) self correcting. Money is the power by which the system runs. Every component tries to provide the path of least resistance to the power so they can get more/move more money than the next component - but move too much without adequate heat sinking and you'll find your company lets its magic smoke out. The power source is the consumer. An ideal situation is where you get money from the consumer and you give it directly back to the consumer. Most businesses, however, buy from other businesses and sell to other businesses or some combination of that. I could go on, but the gist of the issue is that it wasn't necessarilly in the country's interest for the government to step in. It's not laissez faire (no regulation or subsidy whatsoever, IIRC) but it's not complete regulation. There is political corruption, but much of what's percieved as corruption is simply the politician doing his/her job. When a large company gets tax free land, a subsidy, a research grant in my state it's not only because they lined the politician's pocket - it's because it will proide jobs and improve the local economy - which is good for everyone in the area, and that's one of the reasons to choose a good polician. But there are a diverse array of opinions/thoughts on this exact subject, and I'm simply glad we have much freedom to choose how things go. -Adam Uri Sabadosh wrote: >Don't you guys see? Why the government did not fix the accounting laws (and >many others)? Because of the money influence. As long as there are >contributions and lobbyists the system is not fixed just being tinkered >with. > >Uri > > > >----- Original Message ----- >From: "Scott Stephens" >To: >Sent: Tuesday, June 04, 2002 2:49 PM >Subject: Re: [OT]: $1-a-day wages > > > > >>From: Rex Byrns >>Subject: Re: [OT]: $1-a-day wages >> >> >> >> >>>It is almost like the Enron thing was proof in point of how much you can >>> >>> >>get >> >> >>>away with, so now these guys are all doing it. >>> >>> >>The US worships Mamon; the God of greed. I am continualy amazed Our Lord >>Greenspan is able to show such self control with the balls of the beast - >>interest rate of the Federal Reserve Bank. But for mere mortals the >> >> >penalty > > >>for getting caught is death. The US government - the SEC, IRS, FBI, the >>congress, the president (Clinton) could have put an end to accounting >>shenanigans, offshore hedges and tax shelters long ago. They didn't >> >> >because > > >>they are greedy too. They let Arthur Anderson and Enron take all the rope >>they wanted to hang themselves. >> >>One congressman called it a bank robbery, Enron the robber and AA the >>getaway driver. If so, congress was a whore paid by the robbers that was >>screwing the bank guards (the SEC, IRS and FBI) as the robbery was >>happening. If your competitor is offshore and pays no taxes, but your >>corporation must pay taxes, is the federal government any better than a >>goon, a thug that breaks your kneecap so your competitor can win the race? >> >>Perhaps someone will correct my understanding. Enron basicaly insured its >>success in high risk speculation by setting up 'hedge' entities that >>guaranteed high risk ventures. Enron betted the environmentalists and >> >> >Global > > >>Warming kooks would silence any dissent over high California electric >>prices. High prices that Enron and others were bidding up the price in. >> >>Good 'ol boy Bush did the best he could for 'ol Ken Lay, the guy that so >>kindly let Bush fly his jet around the country to campaign for president >> >> >in. > > >>Bush wanted deregulation (in the name of free capitolism) till the >>California public and congress could stand it no more. In this case >>deregulation is not free market capitolism. The game was rigged. Rather >>than breaking monopolies, the feds were cultivating them. >> >>Enron insured itself and lost, the hedges, which were funded with Enron >>stock, imploded. The only thing Bush and the Republicans can say is no >>heroic effort was made to save them. There is no honor among those thieves >>of the public trust. >> >>Make no mistake, the greedy evil-doers want high energy prices and high >>profits. Once upon a time the earths atmosphere had no oxygen. We are >> >> >doing > > >>the planet a big favor by recycling all the carbon that is buried. If we >>don't volcanoes will. All the CO2 volcanoes can spew out gets turned into >>carbonates - limestone by sea creatures or hydrocarbons by plants, and >> >> >gets > > >>buried again. Global warming is global greed - Europeans screaming the US >>gets cheaper gas because our corporations are bigger and meaner. They >> >> >tempt > > >>the US government to share by offering a canard of 'global warming' to >> >> >raise > > >>US prices and make supply available elsewhere. Global warming is an >> >> >excuse, > > >>a soccer-mom environmental marketing ploy, an excuse to control the global >>energy market. >> >> >> >>>I am confident that the average consumer has a love of the truth that is >>>sure to keep all corporate and government evils in check.. . .. . .. ... >>> >>> >.. > > >>The best defense of the dumbed down public is its ability to punish >>politicians that screw up. But as "Homeland Security" gets more power, the >>ability of the people to punish a corrupt and tyrannical federal >> >> >government > > >>will be severely impaired. When did America free slaves, give women the >> >> >vote > > >>and equal pay, or stop oppressing any minority because it was the right, >>just thing, rather than because the minority organized and inflicted a >>greater pain on the exploiters, than the pleasure derived from exploiting >>them? >> >>A patriot once paid the corrupt, evil, income tax in pennies. A >> >> >non-violent > > >>protest. A law was passed making that illeagal. A law making peacefull >>protest illeagal. The feds don't want you punishing them for exploiting >> >> >you. > > >>The federal evil-doers will sustain their power until their own evil >>implodes them, or a foriegn power gets tired of being exploited by >> >> >American > > >>corporations rigged to degrade, dominate and exploit the world for a >> >> >greedy > > >>tyrannical minority. I wouldn't be surprized if the Chinese bury nukes >> >> >(real > > >>nukes - 50 megaton H-bombs the patriots at Los Alamos and the FBI sold >> >> >them) > > >>in the sewers of 100 of our cities and put an end to America within 30 >> >> >years > > >>or so. >> >> >> >>>"The American Republic will survive and prosper >>>, until the government realizes that it can bribe it's people >>>with their own money" - - Some French Guy >>> >>> >>I thought it was Alexis De Toqueville ("Alexis de Toqueville opined in >> >> >1835, > > >>"America will fail when the public discovers >>that it can vote for itself largess from the public treasury.""; ) >> >>But perhaps it was Tytler? >> >>"A democracy cannot exist as a permanent form of government. It can >> only exist until a majority of voters discover that they can vote >> themselves largess out of the public treasury." - Alexander Tytler >> >> Anyways whoever said it was right. The government isn't prosecuting >> >> >Arthur > > >>Anderson and Enron because what they did was irresponsible, deceptive, >>dishonest, greedy, selfish betrayal of the stock-holders and the nation. >>They are persecuting them because they got caught. >> >>Scott >> >>********************************************************** >>If you are cheater 1 of 10, shame on you. If you are cheater 1 of 3, shame >>on your leaders, shame on your culture, and shame on you if you get >> >> >caught. > > >>In a government of laws, existence of the government will be imperiled >>if it fails to observe the law scrupulously. Our Government is the >>potent, the omnipresent teacher. For good or for ill, it teaches the >>whole people by its example. - Justice Brandeis - Olmstead v. US, 277 U.S. >>438(1928) >>********************************************************** >> >>-- >>http://www.piclist.com#nomail Going offline? Don't AutoReply us! >>email listserv@mitvma.mit.edu with SET PICList DIGEST in the body >> >> >> >> >> > >-- >http://www.piclist.com#nomail Going offline? Don't AutoReply us! >email listserv@mitvma.mit.edu with SET PICList DIGEST in the body > > > > > > > -- http://www.piclist.com#nomail Going offline? Don't AutoReply us! email listserv@mitvma.mit.edu with SET PICList DIGEST in the body