"Enron is the egregious exception. "

[Terrance]

pynchonoid wrote:
> 
> --- Terrance <lycidas2 at earthlink.net> wrote:
> > So, should I cancel my subscription to the wall
> > street journal and the
> > ft now?
> 
> No, keep reading.  Those papers do a good job of
> tracking the corporate crooks as they are caught.

Yes, and interviewing portfolio manages, fed policy makers, congress
people, people at the SEC, at the IRS, investors of all sizes and from
all corners of the globe about these issues. Enron is in the paper today
and has been for months.  And so on. 

What is your point? 

If a portfolio manager with a 5 billion dollars to manage  calls up xyz 
company and says, 

Hey, I'm joe smoe and I manage 5 billion bucks for the state of
california pension and I'm thinking about buying 500 million dollars of
your xyz 7% of 2023 bonds (in other words he's going to lend them 500
million dollars) , don't you think xyz is going to give him more than
dog and pony show? 

Oh doug, you really have no idea.