No company in recent memory failed the way Enron did. But the pall that has since fallen on this market isn't Enron's fault alone. Market watchers note that rumors of accounting irregularities surface almost daily, pummeling stocks of companies that Wall Street doesn't like or understand. Some days the chatter is loud enough to drown out any talk of an economic recovery and send the market stumbling. Tuesday's mild selloff offered yet another example. But to blame Enron's collapse for every fall in the stock market is to miss the point, some market observers say. Yes, until recently the book-cooking didn't appear to have reached the near-epidemic proportions it has taken on. But at the end of the day, the market's reaction has less to do with the state of the accounting trade than with investors' changing expectations -- and with the continued priciness of U.S. stocks.