Quote:
Originally Posted by gstelmack
A lot of it was money created via the stock market boom, which was based on inflated earnings from a number of companies (Enron was only one, and lots were found to be fudging numbers in a not-quite-as-illegal way), and when the earnings fraud was uncovered the market took a nosedive and wiped out most of it as things returned to what actual money was there. Do you remember how many retirement accounts were wiped out because of Enron alone?
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The retirement accounts that were wiped out by Enron were overwhelmingly those of Enron employees, where their entire account was tied to Enron stock.
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Thinkin' of a master plan
'Cuz ain't nuthin' but sweat inside my hand
So I dig into my pocket, all my money is spent
So I dig deeper but still comin' up with lint
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