Re: RE: Re: RE: Krugman.........faux Schumpeterian

[Carrol Cox]

"Devine, James" wrote:
> 
> > yaddah....
> 
> I believe PK is referring to the common "principal/agent problem" in which
> the agent (Ken Lay and the other crooks) get out of control of the principal
> (the stockholders).
>

Doe anyone know who "the stockholders" were/are (not counting those
"stockholders" whose holdings are indirect through retirement accounts,
mutual funds, etc.)?

If they were mostly insurance companies, banks, billionaires from other
fields "diversifying," etc. why didn't they protect themselves better?
Or is the loss not that big a deal for such?

Carrol