2002: IT'S JUST BILLIONS AND BILLIONS OF DOLLARS GONE - So Much For Fast Track/Free Markets

(12/03/2002)

OPINION Bob Weaver 2002

The loss of billions and billions of dollars are behind the corporate collapse of WorldCom, Enron and shaky financial dealings of at least a dozen other companies that practiced creative accounting with little oversight, bilking investors, workers and suppliers.

Millions of people will experience some losses in their stock accounts and retirement programs.

The ripple effect will come down to every American, in the case of WorldCom, 63,000 people could lose their jobs.

Enron is an example of screwing heads on backward with government regulators.

It's all part of the powerful trend toward free market, world trade.

Most Americans are paying little attention to the unfettered, hand-offs, fast track for quick dollars, trusting the financial wizards and Washington watchdogs.

When it falls apart, the politicians will scurry to shift blame.


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