Posted on 07/05/2006 7:03:35 AM PDT by ElRushbo
Anybody who would put their life savings in a high risk, energy speculation stock was asking for trouble. They weren't crying when it was returning 20-30%, that should have given them a clue.
Pray for W and Our Freedom Fighters
Oh please.
No conservative is making excuses for Lay - he was a criminal, he was convicted and he was set to do some serious time and I don't know of any conservative who had a problem with it.
Likewise, I don't know of a single conservative who believes that stealing a loaf of bread is a life offense, or a conservative who feels that culpability for the theft of a loaf of bread is intensified or diminished depending upon the thief's race.
Utter hyperbole, and the kind of rhetoric I would expect to read in a Paul Krugman column, not on FR.
Thank you.
It is absolutely pathetic.
There were Enron employees profiled on the news in the most sympathetic manner back when this happened.
People who claimed they had lost 2 million dollars.
They worked for Enron, they put their 6% pretax contribution for their 401k entirely in Enron stock, they had the free matching stock from Enron and they had used their other savings on purchases of Enron stock.
Then they held this stock from $81 to $27 without moving a muscle to diversify.
If they had put their 6% pretax contribution in index funds and had used their other savings to invest in non-Enron equities, all they would have lost was the free matching stock Enron gave them - which was found money anyway.
And these people knew when they joined Enron that they weren't guaranteed a job for life.
Why am I supposed to feel sorry for these people, let alone believe that "justice" demands they alone among all Americans should be protected from the consequences of their poor decisions?
In the WSJ this morning, the article said that Lay was in a rented unit in Aspen when he died.
That's a *very* happy thought, for most of us!
Yeah, I know. I was lucky and got $.02 on the dollar.
Good grief! There's nothing wrong at all with trusting, especially the company you work for. It's like being patriotic.
Therefore, I am happy to have the matching stock that my company gives me, but those are the only shares of my company I own and I have the rest of my finances diversified.
I probably should sell some of my vested stock from a purely logical investing perspective, but sentiment dissuades me.
In any case, I know that if anything goes wrong with those shares, while it would be painful it still wouldn't submarine my retirement.
Thanks for the confirmation - I've heard it a couple more times this morning, too.
On the contrary, the employees may not have been "guaranteed" a job for life, verbally - but many, like me, had a parent who *did* have a job for life with one oil company.
Why would they not want to emulate what they knew to be true - what had raised them to adulthood, educated them and made them qualified to get that same benefit?
I don't have much sympathy for people who expect to have one job for life. Unrealistic expectations are made for disabusal.
I'm glad the Great Scorekeeper allows Mulligans...;-)
Yikes, the numbers just keep growing. And most have heart attacks. Or lead poisoning. I saw this article today on how Lay's Death Complicates Efforts to Seize Assets. That just makes it all the creepier. Gee, Lay's untimely death just happens to complicate - or halt - asset seizure. I'm just shocked. (not) I wonder if they'll ever really recover that money and try to repay the victims?
Amen! Too many sinners claiming free grace. Are they gonna be surprised when it's their turn to go!
Elder Bush said that Ken Lay was a good friend of his and he was very sad at his passing.
I can think of one.
God love him - but look who his new best friend and adopted son is.
Well, sorry, I can't agree with you on that. It wasn't his money to give away. KL had a lot of people fooled, except One.
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