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Who were they trusting to responsibly invest it other than themselves? I thought the people who lost were the ones who had it all invested in Enron. I'm not awa
by troupe 9y ago
Who were they trusting to responsibly invest it other than themselves? I thought the people who lost were the ones who had it all invested in Enron. I'm not aware of any financial advisor who would consider this responsibly invested.
- CaptainZapp 9y agoLook up 401K. Which were mostly invested into Enron shares.
- troupe 9y agoI don't know of anyone who advises people to invest all of their 401k funds in a single company. Every piece of reputable financial advice on retirement seems to suggest that you should NOT do that. I'm not trying to minimize their loss or how hard that would be, but if we think people should have the freedom to make decisions on how to invest their retirement money, then we have to accept that some people will invest it all in a company where they will eventually lose it.
- Analemma_ 9y ago> I don't know of anyone who advises people to invest all of their 401k funds in a single company. That is exactly what Enron's in-house financial advisers did. They went to jail for it, but that's cold comfort to the people whose 401k's got wiped out.