... the next Enron... ASTOUNDING parallels
Subj: MICHAEL A. HILTZIK - Enron's Web of Complex Hedges, Bets
Date: 1/31/02
From: LePatron@LeMetropoleCafe.com
To: dougak@NeedingToLearnToWriteReadablePosts
Served at The Hemingway Table
Enron's Web of Complex Hedges, Bets
By MICHAEL A. HILTZIK, Times Staff Writer
"Enron could engage in its complex trading strategy
without fear of regulatory intervention because the
government explicitly exempted much derivatives trading
from oversight. That's at least in small part because
of a ruling by the Commodity Futures Trading Commission's
former chairwoman, Wendy L. Gramm, just five weeks before
she joined the Enron board in 1993. Gramm is the wife
of Sen. Phil Gramm (R-Texas)."
"OTC derivatives are as powerful as futures and securities,"
Greenberger said. "If there's anything we're learning,
it's that the big boys maybe can't take care of themselves."
A splendid article to help people understand what is happening
in the gold market.
Gold will be the next Enron.
It is only a matter of time.
The parallels are ASTOUNDING!
P.S.
Senator Gramm, former chairman, of the Senate Banking Committee
that deep-sixed all the material GATA gave to him
All the best,
Bill Murphy
Le Patron, LeMetropoleCafe.com
Chairman, Gold Anti-Trust Action gata.org |
