I was listening to NPR on the way home from work the day Enron filed Chap. 11. They were talking about how a bunch employees put 100% of the 401(k) into Enron stock back in the summer. They even had one of the families on that did this. One guy put all of his 401(k), worth $2.5 Million, into Enron stock. Now worth virtually nothing. While it is a horrible thing to happen to anyone and something you wouldnt wish on most of your enemies, these people must have known it was not a good idea. They were looking at Enron stock and the companies projected $120 stock price and they got greedy.
The company I work for limits the amount of 401(k) that you can invest in the company. If memory serves me right, we are not allowed to invest more than 25% of our 401(k) in company stock. Might even be a lower %.
Oh, and now a bunch of the employees who lost everything because they put everything in Enron are suing Enron and want their money back. Unless they were illegally and fraudulantly advised to invest that way, tough shit.
How the hell does one connect a company going out of business with somehow getting special treatment from the Bush adminsitration? If Bush had so much pull then why are they going bankrupt?