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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: Tommaso who wrote (136917)	12/3/2001 2:54:02 PM
From: Real Man	Read Replies (1) \| Respond to of 436258

Be careful, thou, - in the end it will be worth 0 -g-

To: Tommaso who wrote (136917)	12/3/2001 2:57:32 PM
From: reaper	Read Replies (1) \| Respond to of 436258

OK, maybe I missed the point (assuming that the "point" is that there could be a "short squeeze"); but the "point" is wrong. Look, I'm not going to argue that Enron might trade up; as noted XOXO managed to rally to $1.03 from $0.27. What I am trying to say is that Enron "equity" holders are going to wake up one morning, as XOXO holders did on Friday, to find themselves zeroed out. And to the point of why the "point" is wrong and irrlevant; if I am a BANK and I am long the bonds/debt and short the stock (and remember here that the bank debt is trading sub-50 cents on the dollar) every $1 dollar increase in the value of the Enron enterprise accrues $1 dollar to me and $0 dollar to equity holders for about the first $5-10 BILLION of $dollars that can be found. 'Cause I'm first in line. so the only way that i would "cover" my equity short (thus causing the "short squeeze" that the moron who wrote that article is praying for to bail him out of a dumb position in Enron) would be if somehow it became true that I was made whole on my debt. it ain't gonna happpen. nobody is gonna get made whole. we will all wake up one day and find out that Enron got picked apart in a pre-packaged bankruptcy for pennies on the dollar and any residual equity holders will get zilch. Cheers