ENRON is a blip on the radar...a micro blip...but if you look at ENRON...you will see the whole scam that the securities industry is...
They are all crooks...Anderson...Enron...Market Makers...UnderWriters....the whole thing is set up to fleece the public...
I am amazed that the "focus" on Enron and Anderson hasn't moved to the real culprit of this scheme...the industry itself and its sub-culture.
Why do you think they issued upgrades when the market was tanking? Where do you think the smart (inside) money was? IT WAS SHORT FOR CHRIST SAKE! Why do you think they kept issueing upgrades? SO THEY COULD SHORT INTO THE SHEEP!!!...
Enron was nothing more than a corporate daytrader playing with leveraged and risky positions...AA helped them....nothing more....
KEEP YOUR EYE ON INDUSTRY! Enron and AA are indicative of a far greater problem...The rest of the boys in the club are plenty pissed off for the spotlight that ENE and AA brought...they will deflect and obfuscate....WATCH THE INDUSTRY
Damn, finally someone with some insight....
Unfortunately, I think you're correct. Tragic consequences possible.