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To: Bayou City
AS of Sunday morning FOX show...looks like there WILL be an investigation into the Global Crossing...per Lieberman. THIS will be fun...maybe Enron is a blessing in disguise! THANKS for the PING!
80 posted on 02/10/2002 8:17:48 AM PST by antivenom
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To: antivenom
I hate to see folks getting their hopes up over GX, because there is simply nothing illegal or unethical in what TM did regarding his investment of $100k that resulted in a (reportedly) $18 million sale. He put his money at risk way before the IPO and sold near the high during the market's pricing bubble.

This was done by thousands and thousands of folks during 1999 - 2001. Many of those companies that produced stock option millionaires are today selling as low as 1% of their peak, and/or are bankrupt.

TM rode the wave in GX, he may have ridden the wave down in other issues. But, his GX profits are rightfully his.

Unless it is shown that TM's GX investment was either protected against loss or somehow effected illegally (such as backdated by a year or so) there is nothing here. That is how folks get rich on Wall Street. Then, even if it were to be shown to be improper in its design, a DIRECT link would then have to be established to a specific event to tie this to a political scandal.

You surely are aware that there are Republicans who also received very low cost GX stock?

The scam that has been performed on the investing public these past few years is huge, the largest ever, but it is not a political scandal. Few even understand or grasp its scope and I seriously doubt that we will ever see any of the guilty parties behind bars. The investment banks made BILLIONS with the IPO frenzy and their controlling of the pricing, distribution and promotion. Billions.

Recently, CSFB gladly agreed to pay 100 million to settle with the SEC and NASD. $100 million is chump change relative to the profits CSFB took in via fees, illegal commissions and principal trading transaction. CSFB sometimes made $100 million on the manipulated trading of a single issue.

The point is simply that TM's actions (that are publicly known) regarding GX are not improper or unethical. Chasing TM on this issue will prevent valid investigations into other areas of impropriety that may warrant the attention.

Just my opinion and I could be wrong, but I don't think so...

83 posted on 02/10/2002 11:04:17 AM PST by There's millions of'em
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