Definitely

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Definitely

Larry J — 1/19/2004 11:00:40 PM (archived)

I agree that fraud will always be with us. However, compared to the Dot.bomb disaster, even Enron is small potatoes. The Enron fraud was a single company and was, if I recall correctly, in the single digit billion dollar range. The Internet bust was hundreds of companies, and dropping over 3000 points on the Nasdaq probably totaled in the several hundred billion dollar (or more) range. Sure, some of the failed companies were possibly driven by the "New Economy" drivel, but I can't help but believe that fraud was behind a lot of it.

The whole thread (11 posts)

Here come the jobs - ebnelson - 1/18/2004 6:15:21 PM
- A drop in the bucket for the devasted IT area. I doubt if IT will EVER reach the employment levels of a few years ago. (n/t) - David F Mayer - 1/18/2004 7:03:53 PM
  - Perhaps not... - Larry J - 1/19/2004 6:38:35 PM
    - Fraud will always recur. Here are a few from the recent past: - David F Mayer - 1/19/2004 9:28:00 PM
      - Definitely - Larry J - 1/19/2004 11:00:40 PM
        
        ENRON was something like a 60 billion dollar swindle. It had absolutely no chance of succeeding, but was bled dry by its officers. These DOT-COMs had some reasonable chance of success, but not nearly… (n/t) - David F Mayer - 1/20/2004 1:31:28 AM
        
        The Dot.Con industry was mostly created by investment bankers to pad fees - ebnelson - 1/20/2004 5:06:25 AM
        
        Most of those Dot.Bomb companies... - Larry J - 1/20/2004 3:03:53 AM
        
        The dog food story is, alas, typical. There was this idea around that "market share" was the only important thing. Profits would come later. In reality, profits came NEVER! (n/t) - David F Mayer - 1/20/2004 2:34:06 PM
        
        A lot of people lost money... - Tom Brosz - 1/20/2004 3:35:24 AM
        
        There's also a lot of empty office buildings - Gary - 1/20/2004 4:58:55 PM

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