Thursday, April 21, 2005

Enron Stock

Ted reviews the latest Enron movie which I also recommend, though I do want to quibble with one thing he writes:

For example, some people had most or all of their retirement accounts invested in Enron stock. That’s an important part of the story. It would also have been appropriate to show someone, anyone, pointing out that these people had made a horrible, foolish decision on their own.

There certainly were people who behaved very foolishly, but this state of affairs was in part due to the fact that Enron's matching contributions were in Enron stock, and such contributions couldn't be moved into other funds until the employees reached the age of 50.