Enron, Tyco, Global Crossing, Adelphia, WorldCom. There has been one major scandal after another, making already nervous investors even more jittery. In response, President Bush, Congress and the Securities and Exchange Commission have taken steps to try and restore faith. Has any of it worked?
Justin Lahart says:
"Even in the face of an uncertain economic future, sentiment has gotten better. The corporate bond market has improved markedly. And stocks? The Dow didn't rally 260 points Aug. 14 for nothing." (see full story)
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Paul R. La Monica says:
"The only thing that can truly bring back confidence is time. Until it becomes clear that all guilty parties have been singled out and will be severely punished, investors' continued distrust appears justified." (see full story)
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