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Politics : PRESIDENT GEORGE W. BUSH
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To: DOUG H who wrote (217216)1/11/2002 12:56:48 PM
From: Skywatcher  Read Replies (4) of 769669
 
Officials at the Treasury and Commerce Departments said Mr. Lay had
spoken to Mr. O'Neill about Enron's condition on Oct. 28 and Nov. 8 and
had spoken to Mr. Evans on Oct. 29. Although Mr. Lay had maintained until
late October an optimistic public face about Enron's future, on Oct. 16 the
company reported a third- quarter net loss of $618 million. On the same
day, Moody's Investors Service announced that Enron's long-term debt
obligations were on review.

The dates of the calls and the announcements of the bad financial news about
the company are significant. If Mr. Lay had made the calls earlier in October,
before the state of the company was widely known, the Bush administration
would have been aware of the true condition of Enron while Mr. Lay was
promoting a different story on Wall Street.
CC
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