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Wall Street Gets Its Due
-- February 20, 2002
The Enron backlash is beginning to snowball. It started when investors began to scrutinize corporate accounting methods -- punishing companies like IBM, Tyco, and Williams Companies for questionable accounting. Now, the manner in which Wall Street firms do business is coming under the microscope.
Congress is now investigating whether certain Wall Street firms benefited from, or even played a role in, Enron's deception of the investor community. Now, Wall Street will have to answer for it actions. Or maybe it'll plead the Fifth.
When all is said and done, it should be clear to the investing public that Wall Street firms are, first and foremost, in the business of making themselves money. And many times, it's the individual investor that ends up paying the price.
Enron Probe Widens To Wall Street