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Politics : Ask Michael Burke

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To: Tommaso who wrote (103439)	3/2/2006 4:31:20 PM
From: Logain Ablar	Read Replies (2) of 132070

You still read the NY Times? Back in 01 after the ene blow up I read Ken Lay astutely had placed a significant portion of his wealth in annuities and retirement plans which are protected from bankruptcy and other state / federal actions. Not sure if its true but I'm sure part of it is. People forget once ENE dropped below $40 it had one of those "floorless" poison guarantees with one of those Fastow partnerships (wish I knew about this before the blow up) where it had to keep posting stock to support debt it guaranteed.

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