Neglected clues.

Pensions & Investments, June, 2002

The World Trade Center and Pentagon disasters occurred Sept. 11, 2001. The Enron Corp. collapse began about the same time. No one in government has yet been fired, or even disciplined, for the massive governmental failures that led to Sept. 11, while most of the key executives involved in the Enron collapse have been fired and are being sued.

The market has taken a heavy toll on Enron's stock, and Arthur Andersen LLP has been indicted by the government for its failures. The huge discrepancy shows why the United States has a vibrant private sector, including a private pension system, and needs more privatization, not less. Private enterprises are subject to several different levels of discipline. They are first disciplined by the market for any failures,...

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