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Non-Tech : The Enron Scandal - Unmoderated
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To: JBTFD who wrote (1561)2/15/2002 7:59:19 PM
From: Raymond Duray   of 3602
 
Derivatives: The Crazy Aunt in the Attic

Hi Mark,

FIASCO is quite the eye-opener, isn't it? <g> I felt it was one of the most honest books I've ever read about Wall Street. Richard Ney's work in the 1970's was much in a similar vein, albeit with a slightly less sinister cast of characters.

As far as the risk that clever U.S. banks are deceiving the general investing public with chicanery by swapping future liabilities for current period profits. "Quelle scandal!" How dare you suggest such a thing? This emperor has new clothes, doncha know? The OTC derivative trading partnership I'm looking for is "Red Queen", to cast a more classic wit to the banal JEDI, Raptor and Chewco. Lewis Carroll could tell us a thing or two about our derivatives markets, I'm sure. <g>

All the best, Ray
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