Semi-Equips - Buy when BLOOD is running in the streets! Message Board

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Technology Stocks : Semi-Equips - Buy when BLOOD is running in the streets!

LRCX 148.32

-3.3%

Nov 14 9:30 AM EST

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To: willcousa who wrote (10282)	3/6/2002 7:12:15 PM
From: Katherine Derbyshire	Read Replies (1) of 10921

>>Those SPC's had to have lost a lot more money than the investors in them took out. I wonder who made the bulk of the money. Congress should look at who took the other side of the hedging transactions. << As I understand it, the whole problem is that the "hedges" didn't actually hedge anything. Enron essentially took both sides of the transaction because it agreed to make good on any partnership losses with Enron stock. So all the risk stayed with Enron, while the investors in the partnerships (including Enron executives) got rich. That's why people are throwing words like "fraud" around. Disclaimer: I'm not an accountant. My information comes from the Enron board's internal investigation, the report of which is posted on the New York Times site and probably elsewhere as well. Katherine

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