As in most cases (HIH, Onetel, ABC) the signs are there if you...

As in most cases (HIH, Onetel, ABC) the signs are there if you do the analysis of their reported information.

As with all reports - they are audited against accounting standards, not how clearly they read - so its no easy. Anyone that looked closely couldn't reconcile them with the fundementals required for them to be a sound investement.

They were not "subsidised by Government" or "a sure thing in a monopolised industry".

Current financial situation has only brought forward the inevitable.

Surprised that the banks and large investors continue to make mistakes? Everyone seems to lower their standards in a bull market.