The Wall Street Journal blames the fall of Enron on Bill Clinton. Well, more specifically, they attempt to blame Enron’s sharp practices on “the moral climate” of the Clinton years:
We’d say it’s also impossible to understand Enron outside of the moral climate in which it flourished. Those were the roaring ’90s, when all of America reveled in the economic boom. They were also the Clinton years, when we learned that “everybody does it.” The culture wanted to believe in Enron’s promises, which helps explain why 16 of 17 Wall Street analysts rated Enron a “buy” as recently as last October.
So what you’re saying is that 94% of Wall Street analysts were so bamboozled by the thought of the president getting a hummer that they lost all critical thinking skills? Wow. Really makes you wanna run out and play the market, doesn’t it? Did these analysts not have mothers who said to them “If everybody jumped off a bridge, would you jump too?” Maybe lax parenting is also to blame for Enron. Did any of these analysts go to school with John Walker Lindh?