I work my as* off 50 to 60 hours a week just to get by, and you have the ba**s to whine about your loss of 400 million dollars. Your arrogant whining has no effect on me whats so ever. You deserve much, much more than you'll ever recieve from the courts. How many additional lives have you ruined with your greed? If I had the power, you would spend the rest of your greedy life in prison and serving the poor.
You and the rest of the "money above all" crowd are nothing but crooks in sheep clothing.
The inherent problem in all this hoopla is that any seasoned investor knows that a few Enrons, Tycos, and WorldComs didnt create the bubble. The bubble of the late 90s was produced by an overly lax (or even irresponsible) monetary policy, along with an endless deluge of optimism. In stoking the optimism, the major Wall Street firms provided the cheerleading, while the media provided the publicity.
The truth is that evidence of a dangerous bubble was rampant in everything from lofty valuations and soaring margin debt, to the price of a seat on the New York Stock Exchange and the record number of investment clubs being formed. But no one on Wall Street wanted to rock the boat in 1997-99. No one in control (neither the Federal Reserve or Exchange officials) wanted to take responsibility for ending the (Clinton's)* party. And only a few in the media cared about presenting a contrarian or out-of-favor viewpoint.
So here we are today, picking up the pieces and focusing blame on a few special situations somehow trying to rationalize how this caused $5.5 trillion in stock market values to vaporize almost overnight. Well ironically, it didnt. However, this misguided focus (or great bubble cover-up as we call it) is continuing to damage investor confidence. And that is making for a very bumpy ride "
James B. Stack InvesTech Research July 5, 2002 www.investech.com
(* my insert)