OUTRAGE OVER BIG-BIZ SCAMS: Wall Street, Fraud Street; WorldCom, WorldCon

NY POST ^ | 6/27/02 | PAUL THARP

[Liz]

Wall Street is looking more and more like Fraud Street. From the White House to Main Street, cries of outrage rose over the latest in a string financial scandals ripping though the economic heart of America.

An angry-looking President Bush said he was "deeply concerned" about some of the accounting practices in corporate America and called "outrageous" the disclosure that the quickly collapsing telecommunications giant WorldCom had hidden $3.8 billion in expenses.

[Liz]

.......five scandals alone - WorldCom, Enron, ImClone, Tyco and Adelphia - have wiped out more than $365 billion of investors' money with little chance of ever recouping. ..............

FR researchers will connect every single one of these frauds to the Clinton connivers.

[technochick99]

This is one reason I have stayed away from individual stocks... you just don't know what's really going on. From a risk perspective, a mutual fund is better.

[grania]

This is one reason I have stayed away from individual stocks... you just don't know what's really going on. From a risk perspective, a mutual fund is better.

What I would love to find is an interactive mutual fund where investors could have a dialogue with the managers, and that fund was independent of a fund family. What I don't like is that fund managers do not really control when to buy and when to sell stocks...investors can invest and withdraw at will.

I'm doing better on my own than just about any mutual fund would do for me...but I'm a really small investor. I do my research, check things a few times a day, re-evaluate my decisions every few months...it is very time consuming, but I'm analytical by nature, so that's ok.

But I agree with you about the data...it's very hard to make good decisions if you can't believe the data.

[backhoe]

I think I dubbed the 1990's "The Decade of Fraud(s)" back around 1998... you know, the clintons, the dotcom bubble, the usual suspects in deceiving an admittedly gullible public. Wish I'd trademarked the phrase...

[Trust but Verify]

Until the bottom falls out of real estate. Who's going to buy the homes of all the baby boomers when they retire or die?