Re: [CANSLIM] Another Andersen client

From: "Patrick Wahl" <pjwahl@attbi.com>
Subject: Re: [CANSLIM] Another Andersen client
Date: Mon, 28 Jan 2002 21:03:41 -0700

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He was replying to my comment on analysts, and how they have changing 
allegiances since the seventies, when retail customers represented more of the 
brokerage's income.  Enton is unrelated to that, but the fact that most analysts were 
not warning anyone of the seriousness of the problems (some analysts still had buys 
on it up to the bankruptcy) may be related to the deregulation.

On 28 Jan 2002 at 22:32, Spencer48@aol.com wrote:

> Mike:
> 
>      I'm not certain what you're saying here.  Is the conclusion suppose to 
> be that deregulation and increased competition led to the Enron debacle?  
> But, if so, and if  dereg began in the 70's, why did it take 30 years for a 
> financial catastrophe like this one to occur?  And if it didn't take 30 
> years-what was the first one?  
> 
>      And does the go-go era of the 90's (stock market wise) evince convincing 
> contrary evidence that dereg and increased competition in commisssions is a 
> bad thing?
> 
>      Moreover, I'd hazard that a lot of people including corporate accounts 
> and investment bank officers lost money in Enron.  That's why it plummeted 
> the way it did-because everyone was selling, and no one (except perhaps 
> Anderson auditors, and certain officials in Enron) had any idea-since the 
> losses were off the books-why.
> 
> jans
> 
>      
> 
> 
> In a message dated 1/28/2002 9:36:18 PM Eastern Standard Time, 
> mikegibbons@proactech.com writes:
> 
> << Yes, commissions were deregulated in the 70's and competition and the
>  internet have driven them ever lower making the investment banks dependant
>  on thier corporate instead of retail clients. An example of the unintended
>  consequences of deregulation. Every silver lining has a cloud.
>   >>
> 
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