Enron, corporate america and savings

This movie about Enron opens plenty of interesting questions:



I don't want to ask the obvious ones. People steal and those who can steal a lot, steal a lot. Mr. Lay died before sentencing, Jeff Skilling is serving 24 years sentence. And it's great it is so, even though it cannot help the employees who not only lost their jobs, but their health insurance, lifetime savings and pensions.

Most of them could not prevent the loss of job or heatlh insurance, yet most of them could have prevented the loss of savings and (some?) pensions. They shouldn't have put these money into Enron stock. It surely sounds obvious from hindsight, but if there is anything that economics 101 should teach you, it is this.

Don't put all eggs into one basket.

If all people learned that from the Enron story, at least something good would come out of it. But I don't think that's the case. Bear Stearns suggests that it is not - allegedly, many employees had most of their savings in the stock of the BS.

(H/T to PCh for the video)