- Banned
- #81
How many times can you say something that is simply wrong before you realize your an idiot?
Global Crossing. In fact, I think it was bigger than enron. Enron was simply the darling of the MSM, so much for you never quoting "DNC talking points"
Fact is, if some of you, or any of you bumbleheaded liberals would get truly informed, you would see GBLC tells a tale that shows how both parties are corrupt to the core. The only solution is smaller govt at all levels. MUCH smaller.
GBLC is not and wasnt, partisan, they gave almost equally to both parties, got "doors opened" stock price took off, and they later declared bankruptcy. A larger bankruptcy than Enron, at least thats what my source told me. Every once in a while this guy is off on his stats, so I would have to double check the actual amounts of Enron vs GBLC. However, whether bigger, or second to Enron, GBLC was in fact another "cooked book" story.
The stock market rise was due to stocks purchased on the idea of FUTURE performance, rather than PAST performance which is the more traditional way of deciding to buy. Tons of these companies hadnt, and never did make any profit, while the numbers took off, the price of these stocks, many people lost untold thousands of dollars as these companies collapsed.
THese companies, the dotcom companies, drove up the stock market while not producing products, hence it was a false bubble priced market. ALso, the market and the US economy was handed to Bush in a downward cycle. Bush and his tax cuts turned it around.
you have expressed your OPINIONS as to the extent of the effect on the stock market of accounting scandals that occured throughout the 80's 90's and pre-SOX 00's. I happen to disagree with those OPINIONS. I have never said that there were not accounting scandals.... I have merely pointed out that they have been happening for quite some time and the stock market continued to perform throughout them. The fact that I disagree with your OPINION does not mean that I am an idiot, it only means that I disagree..... and your opinion is backed up by..... why, nothing, but more opinion.