feeling their pain. this is the biggest point drop that has ever been seen. we are in the midst of a serious financial crisis and the federal government is responding with decisive action. these guys have been gambling with the house money for years and it s our job to bail them out? the largest swindle in wall street history, and alleged 50 if you million dollar ponzi scheme by bernard madoff. you belong in jail, you criminal! the pardon is over. if there was any company that could make energy cool, it was enron. the texas energy broker treated electricity like any other commodity. it buys and sells billions of dollars worth of energy, every day. it s the largest company of its kind in the world. enron is a company that deals with everyone with absolute integrity. we play by all the rules and stand by our work. we mean what we say . ken lay was the original ceo, he ran enron when the company was created out of the merger of two pipeline companies. he seem
The great depression. he was trying to avoid another . the fallout from the mortgage mess deep in today. a major wall street firm reported its first quarterly loss in its 84 year history. bear stearns was an investment bank and investment banks are not the same as banks, they don t have small depositors, you and i cannot go in and open up a account. they are sophisticated investors who do and should know the risk of the institution when they do business. bear stearns was one of wall street s major firms with a riskier, edgier reputation. where goldman sachs is the queen and morgan stanley went to harvard, bear stearns was the guy flipping the bird in the corner. and it had probably a greater percentage of this toxic sludge
History. bear stearns was an investment bank, and investment banks are not the same as banks. they do not have small depositors. you and i cannot go in and open up an account. investment banks are very sophisticated investors who do and should know the risk of the institution when they do business with them. bear stearns was one of wall street s major firms, but with a slightly riskier, edgier reputation. where goldman sachs is the queen and morgan stanley went to harvard, bear stearns was the guy flipping you the bird in the corner, and it has probably a greater percentage of this toxic sludge mortgage-backed securities in its vaults than anybody else. it s been a hard week for shares of bears sterns as the firm has been buffeted by rumors of a liquidity problem. maintaining its balance sheet is strong. questioning a wall street firm s liquidity is very much akin to yelling fire in a crowded movie house. once that cat is out of the bag, it risks triggering a stampede.