world com

[white boy]

My dad bought stock in World Com before it collapsed. Some broker told him it would double within the next year but he ended up losing everything

what I don't understand is the 500 million dollar fine the gov. imposed

how the hell is this helping investors???

 

[HighIntensity]

The money's gone kid, your father is a fool.

 

[WODIN]

Not a thing.

 

[HG Pennypacker]

Locked

 

[white boy]

The money's gone kid, your father is a fool.

My Dad was far from a fool, just was'nt up on investing and took some bad advice from a broker

anyway the question is how does punishing WorldCom help

all the investors already got screwed by the directors and now they get punished again with a 500 million dollar fine

wtf?

 

[2Thick]

The fine was a BS attempt to make it look like the government is doing something about big business.

 

[Y_lifter]

Have him drive over to the World com Executives Mansions and yell his complaints in thru the gate..

 

[white boy]

The fine was a BS attempt to make it look like the government is doing something about big business.

yeah exactly, it was BS

like "This will teach em" lol

I mean who is realy being punished? the creditors, banks and investors?

 

[2Thick]

yeah exactly, it was BS

like "This will teach em" lol

I mean who is realy being punished? the creditors, banks and investors?

No one is being punished. All of them got away with murder.

The lesson here is that if you sell one joint, you are goin away for 10 years but if you screw thousands of people out of millions, you will get a fine.

 

[BonerBoy]

yeah good point, but it was'nt the crooks who were fined it was the publicly owned company so the public that invested got screwed twice

 

[Jimsbbc]

When i worked there it was a joke how much we owed on our stock since the strike price was way over what the stock was at the time. Back then it was around $15 and falling to around $12.

A lot of people got blind sided, a lot of people i worked with had faith in the firm and got fucked. I always knew going in that the stocks i got in compensation were worthless.

All your dad can do is move on.

 

[white boy]

All your dad can do is move on.

actualy, he has moved on, to the next life

He only had 100 shares that he paid top dolar for ($44)

my mom was able to take a tax write off agains his earning it equalled to about $300

The only thing that realy bothered me about that deal was that when the broker advised him to buy it was on the speculation that they were going to merge with sprint

I feel like it was his (full commision) broker's responsibility to advise him that when the deal fell through that it might be good to sell, even at a loss