April 2003
Intermediate to advanced
320 pages
9h 28m
English
book
Wheel, Deal, and Steal: Deceptive Accounting, Deceitful CEOs, and Ineffective Reforms
by D. Quinn Mills
Content preview from Wheel, Deal, and Steal: Deceptive Accounting, Deceitful CEOs, and Ineffective Reforms
Become an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
Start your free trial
Chapter 21. Do Investors Dare Return to the Market?
“There is no equity in the equities markets.” | ||
| --Michael G. Oxley, Republican, Ohio, House Committee on Financial Services, October 2, 2002 | ||
A Bear Market, Yes, But Not Only a Bear Market
What will restore investors’ confidence in our financial system? Some observers believe that we have merely entered a bear market, akin to many we’ve had in the past, and that as share prices fall and the economy strengthens, stocks will begin to look cheap, people will reenter the market to buy, and the bear will again give way, in the time-tested manner, to the bull.
But things are different today. The equity market collapse this time did not originate in a business downturn, but in the sudden recognition by ...