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KurtNYC

(14,549 posts)

9. That virtually happened with Enron -- Florida state pension fund managers mysteriously decided

Reply to CBGLuthier (Reply #7)

Fri May 25, 2012, 10:29 AM

May 2012

to buy Enron stock in 2002 AFTER the scandal and the fall.

"Last October, after Enron announced $1.2 billion in losses and the Securities and Exchange Commission opened its investigation, the fund bought $7.1 million more of Enron stock. After Enron's chief financial officer, Andrew S. Fastow, was ousted on Oct. 24, the fund bought $16.1 million. When Enron announced last November that it had overstated its profits, the fund bought still another $11.7 million."

http://www.nytimes.com/2002/01/27/us/enron-s-many-strands-fallout-the-enron-scandal-grazes-another-bush-in-florida.html?pagewanted=all&src=pm

But I get your point.

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