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Strategies & Market Trends : John Pitera's Market Laboratory
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To: John Pitera who wrote (5252)12/11/2001 3:53:39 PM
From: Henry Volquardsen  Read Replies (1) of 33421
 
Hi John,

I agree that it will help the industry as a whole to get very close and co-operative with FASB. Most importantly to restore confidence. But, from my limited understanding of what Enron's books really look like, I suspect that any mark to market issues in their trading businesses are a small part of the losses. The real loses, and what appears to be stuffed in those partnerships, are the assets and funding of their broadband business and telecoms ventures. The press keeps referring to Enron as a failed energy business when it really appears to be a failed telecom venture. Mark to market issues in the trading business are a smaller issue and a red herring put forward by those oppossed to energy deregulation.

Either way it is still a fascinating story.

Henry
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