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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: Kevin McKenzie who wrote (8706)	11/28/2001 12:37:02 PM
From: Zeev Hed	Read Replies (2) \| Respond to of 99280

Worst than that, they did it "off the book" in partnerships where Enron was the limited partner (and put the money up) and Fastow was the general partner. A very flagrant breach of fiduciary responsibilities. But frankly, I have seen the equivalent of this breach often. Read in 10Q's the "internal deals", where, for instance the CEO borrows from the company a big chunk of money, then he buys with it a piece of real estate which is leased back to company, a lease structured, quite often, to pay back the loan in three to five years. I'll take a deal like that anytime, but not as a officer of the company, that is a clear (although, in these parts, legal) breach of fiduciary responsibilities. Zeev