"Enron is the egregious exception. "

[Terrance]

pynchonoid wrote:
> 
> --- Terrance <lycidas2 at earthlink.net> wrote:
> > Oh doug, you really have no idea.
> 
> Well, you're wrong about that, but don't let me pop
> your bubble.  I've had direct experience in business
> -- raised millions of dollars in venture capital
> myself, and have served as a corporate officer in the
> two companies that were thus funded -- plus ongoing
> input from the investment banker and corporate tax
> manager I mentioned earlier.  

Sounds like you're the expert here. Well, forgive me. Never ventured
into venture capital. Not big on credit risk, nothing below investment
grade, you understand--pensions and insurance money. No, I've never even
owned junk let alone venture. I do know a little bit about it, well, 
what I've read ... mostly. Never raised any money myself. My problem has
always been what to do with it. That's why I'm more at home in govies
and corporates, private placements, mortgages. It's not that I need the
liquidity, but investment grade and size. Hate to own an entire issue.
So I'm familiar with all the public utilities, all the publicly traded
defense contractors and most of the really big elephants. Yeah, I know
my shit, Doug. And you know yours. That's for sure. 
   

You've raised millions! 

I never raised a dime. I did see the largest saving bank in America.
Well, its portfolio. Wasn't an easy job. Under Bush I it was going along
OK, but when Clinton came into office the job became nearly impossible.
Sometimes it's just better to do it the old way and save the tax payers
money.