9/03/2002

Do you want to know where the money in your retirement fund went? Check out Fortune Magazine's You Bought. They Sold. This Fortune magazine-commissioned study reports that officers and directors of the 1,035 companies that have fallen the most from their recent bull-market peaks cashed in $66 billion worth of stock before the crash, at a time when those companies' non-insiders (and in many cases, employees) were suffering devastating investment losses. Among the "shrewdest" executives were those from AOL-Time Warner ($1.79 billion), Enron ($994 million) and Charles Schwab ($951 million). Where is Robin Hood when he is really needed?

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