Baloney About Employees Losses Many commentators in the media have wailed on the observation that many Enron employees have seen their 401(k) plans go from $1,000,000+ down to a small fraction of that amount. What is NOT pointed out by these commentators is that those plans which experienced such large values were, of course, as a result of highly inflated stock prices which were run up as a result of a very real irrational exuberance that no one was complaining about when it was happening (and, I would add, reflected a 500 to 1 price/earnings ratio at one point). Indeed, … Continue reading Enron Whiners