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I M P R E S S I O N S
The Bear Market Blues ACT I
[The curtain rises, and the spotlight settles on a middle-aged man wearing a wrinkled suit. He is sitting in an office chair behind a metal desk.] BILL WARREN: Hi folks, my name’s Bill Warren. Like a lot of other people, my family took a big hit in the stock market recently. Although I used to keep most of our money in the bank, all that talk about 20-percent-plus-annual-returns in the market finally got the better of me. I invested almost everything. My broker talked me into putting most of it into high tech companies. When the NASDAQ crashed, we were pretty much cleaned out. I’ve had to push back my retirement plans. What bothers me a lot more, though, is that my daughter had to drop out of college for at least a year and get a full time job. Still, I guess in some ways we’re lucky. God knows my friend Stan has it a lot worse.
[The spotlight moves to the opposite side of the stage where a second middle-aged man, also dressed in a suit, is sitting on a stool] STAN COOPER: I’m Bill’s friend, Stan Cooper. I used to work for a little company, you may have heard of, named Enron. Financially, it was a good gig. I pulled down a solid salary, my retirement plan was stuffed full of the company’s sky-high stock, and I had a little extra money that I personally invested in some other stocks. You know, of course, what happened next. Enron’s collapse cost me my job and wiped out my retirement account. Then the downturn in the rest of the market did the same for my other investments. So here I am, 55 years old, broke and unemployed. But this musical isn’t about Bill and me; we’re just your guides. This is a story about corporate America. And where better to begin than with my old employer, Enron. Let me set the scene: It begins in the executive dinning room. All the big shots are there, including Ken Lay, the CEO. They have one thing on their minds — unloading Enron shares. [The spotlight shifts to centerstage, where six impeccably dressed men are pacing around a formal dining table.] KEN LAY: OK, everyone, let’s review the game plan one more time. [The group huddles together and sings.] "GOTTA DUMP THAT STOCK"
Gotta dump that stock Gotta dump, gotta dump,
KEN LAY: All right, all right. Good job, boys. It’s time to go pump up the troops. Let’s get with it. [A platform rises from beneath the stage, revealing several cafeteria-style tables. A dozen Enron employees are seated, having lunch. The Enron executives start clapping their hands and sing.] "BUY ENRON" Buy buy buy buy buy Enron (Buy buy buy buy buy Enron) Went to my broker looking for a smoker Oh buy Enron it’s no con
[The Enron employees cheer as their lunchroom drops back down below the stage. Returning to the executive dinning room, the six men laugh, patting each other on their backs. They continue with their original song.] "GOTTA DUMP THAT STOCK" - CONTINUED Cooked books, big trouble
[Bill and Stan are sitting in their respective seats on either side of the stage.] BILL WARREN: As corporate scandals continued to spread and the market continued to tank, ordinary people started doing something they hadn’t done in years — asking questions about corporate practices. Before you can get any answers, however, you first have to fight your way through all the “patriotic” trappings. My God, these corporate big wigs have become a patriotic bunch, especially since Sept. 11. They can’t sell a jar of pickles anymore without first wrapping it in an American flag. STAN COOPER: So in honor of this vigorous “Madison Avenue Patriotism,” our musical will now feature a patriotic medley. [A black curtain rises, revealing 50 American flags planted on the stage. A group of men and women wearing "CEO" badges march in from either side and do a figure-eight routine before finding their places by each flag.] "SEND THE JOBS OVER THERE" Over there, over there, So why pay, union pay,
I’m proud to be an American And I’ll gladly move my money offshore
Oil Free On the sea and on the land *** Everywhere across the land It’s a dream that’s come true We’re polluting in America Today, today, today, today, today
FIRST CEO: I’m really starting to get worried. After Enron and WorldCom, Congress seems to be getting serious about increasing corporate regulation. That could really cause us some problems. SECOND CEO: Don’t worry about that. Sure, they may pass a statute or two, but there won’t be any meat to them. There are two little words that give us that guarantee: campaign contributions. Let me explain it this way: "A FISTFUL OF MONEY" For a …
[The remaining CEO's leave the stage, and Bill and Stan walk on in their place.] BILL WARREN: Well, Stan, there you have it. Big corporations, not all, but a lot of them, cook the books, ship jobs to overseas sweat shops, use offshore accounts to avoid paying taxes and foul up our environment. And our political leaders don’t do a darn thing about it because they’ve been bought off by corporate campaign contributions. STAN COOPER: Do you think things will ever change, Bill? BILL WARREN: I don’t know, Stan, maybe someday, when people get mad enough. STAN COOPER: Yeah, maybe you’re right. But I guess in the meanwhile, all any of us can do is to just keep on singing those bear market blues. [The entire cast returns on stage and hums backup as Bill and Stan sing.] "BEAR MARKET BLUES" I hate gettin” that brokerage statement, boo-hoo I told the broker man “get me out of this bind” That’s a mean ol” market, leaving me so broke I’ve got the bear market blues, nothing I can do but cry
Discuss. Debate. Steven C. Day is an attorney practicing in Wichita, Kansas. His previous columns can be found here. Related Sites |




