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The real problem with Enron was that the 401k provider was being changed at the time of collapse, not allowing employee's to sell off Enron stock purchased with their own money.

I don't remember the exact numbers, but the Enron price drop during the 401(k) lockdown period of 2-3 weeks was only something like from $14 to $6. These same people watched their stock drop from the 80's to the teens over several months when there was no restriction on selling the shares purchased with their own contributions. They apparently saw no need to re-allocate from company stock for several months, but suddenly the plan lockdown is the source of their woes? I don't think so.

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