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To: Mike E. who wrote (34208)	11/28/2001 5:29:40 PM
From: Smart_Money	Respond to of 208838

ENE All the buying today was shorting covering. Threw me for a loop thinking that many shorts wanted to cover today.

To: Mike E. who wrote (34208)	11/28/2001 7:53:53 PM
From: Smart_Money	Read Replies (1) \| Respond to of 208838

"Calpine Corp. says no net exposure to Enron." Funny how the companies are issuing PR stating no net exposure. BUT, if ENE goes Chapter 11 what keeps the judge from ruling all accounts receivable must be paid to Enron and all accounts payable goes to the end of the line. I serious hope the companies have considered all the aspects of their dealings. I assume the laws of collateral kick in and the cash owed to ENE is the collateral. With companies unwinding their positions before this mess has some logical thinking and was the wisest move. BK court could really throw some curbs.