Al Qaeda, Inc: The Enron Business Model (belated response)

[Peter K.]

Brad M:
"...based on theft or swindles.  Enron is the inevitable
outgrowth of the
'normal' working of the capitalist business cycle at a certain
point in its
"life-cycle".  No reform can prevent this from occurring;  the
"Ponzi/swindle" analogy, however, tends to promote this illusion.
Even at
the quasi-Keynsian heights of the late 60's - early 70's, the
boom-bust
cycle of grossly overvalued enterprises crashing to earth could
not be
avoided - merely attenuated."

Former Fed Chairman and recently-hired Andersen flack Paul Volker
testified
to Congress that ethics in the business community have declined
in
the past decade. It's an interesting point, if true. Either the
institutions "dragged"
ethics down somehow or from a conservative, individualistic
viewpoint, there
was a failure of will or nerve (maybe b/c of Clinton?!) so folks
just need to
behave better. I blame Britney Spears.

Peter