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Gold/Mining/Energy : Enron - Natural Gas Industry
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To: buffaloha who wrote (1237)12/21/2001 1:42:11 PM
From: James Calladine   of 1433
 
ENE ARISING FROM ITS ASHES?

Just as a matter of gut feel, I expect that when the
TRUTH about ENE's trading operations becomes known it will
be found that it was NOT the money-spinner that it was
projected to be, but rather a highly leverage betting game
that produced good results on the run up of energy prices,
and catastrophic results on the way down.

So I think your "house of cards" characterization is probably a good one. Once "card-houses" fall down it is hard to re-erect them, because their existence in the first place is based on trust, and once that is gone, it is GONE.

Namaste!

Jim
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