Fraud @ WCOM

Discussion in 'Trading' started by Bachelier, Jun 25, 2002.

  1. WCOM price action has been trumpeting this problem for months. It went 'enron' before the real news was out.
    #51     Jun 26, 2002
  2. Lavish


    Ever notice that the negative news gets such a tremendous amount of exposure ....yet, the positive news gets little or no exposure. ie: GE expected to meet earnings estimates, etc. etc. hmmmmm. Also, I wonder what effect this will have on gold ? Anyone know?
    #52     Jun 26, 2002
  3. stevet


    Well if the dumb money is going into cash - gold is on its way to $1000, with an easy target of $400 for the end of the year
    #53     Jun 26, 2002
  4. Rigel


    George W., at a press conference with Tony Blair this morning, said that the situation at WCOM is totally unacceptable and that it will be thoroughly investigated, and people will be held accountable.:)
    And Arthur Anderson, whose job it was to determine the financial health of the company says it wasn't its fault that the fraud wasn't uncovered.:mad: :mad: :mad:
    #54     Jun 26, 2002
  5. i really like WCOM. a stock of world records.

    - maximal # of shares ever traded in a single stock on one day
    - maximal # of shares ever traded in a single stock in one week
    - maximal % loss ever achieved overnights with a big cap stock

    and it is not just dying - it explodes into a real "boom"
    #55     Jun 26, 2002
  6. Josh_B


    "The public deserves exactly what it gets," Ponzi replied. "No more, no less."

    "It's never going to change," says Gordon, the Wall Street historian. "As long as there's a great deal of money to be made on Wall Street, there will always be people of dubious morals coming up with new ways to fleece the sheep. Welcome to capitalism."

    snippets from: High and Mighty Crooked¬Found=true

    It appears that, the more things change the more they remain the same.

    #56     Jun 26, 2002
  7. TGregg


    . . . is a contra Arthur Andersen fund, one that shorts all companies that were with AA in the immediate past.

    Big bucks to be made there.
    #57     Jun 26, 2002
  8. That's one reason I listen to the news with less than 1/2 an ear. It needs to be unspun. Anyone who takes the talking heads literally is living in the Alice's Wonderland region in Hell.
    #58     Jun 26, 2002
  9. Rigel


    The Wall Street Journal is calling for prosecution now.
    #59     Jun 27, 2002
  10. It's too bad the present administration has to clean up the mess of the previous....literally and figuratively. But, it is a truth that the responsible always clean up the messes of the irresponsible.
    #60     Jun 27, 2002