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

To: jlallen who wrote (137770)	12/8/2001 11:13:52 AM
From: Box-By-The-Riviera™	Read Replies (1) \| Respond to of 436258

hit the nail, missed the board

To: jlallen who wrote (137770)	12/8/2001 11:38:07 AM
From: portage	Read Replies (2) \| Respond to of 436258

These are the type of guys causing the real damage to the country, and I'll bet you can guess whose friends they are. prudentbear.com Friday December 7, 8:49 pm Eastern Time Enron broadband trades mostly shams, lawyer alleges By C. Bryson Hull HOUSTON, Dec 7 (Reuters) - Most of destroyed Enron Corp.'s (NYSE:ENE - news) broadband trades were meaningless swaps with other companies designed to create the impression of an active market, the lead lawyer in a suit against the bankrupt energy trader's top insiders alleged in court on Friday. ``There were only 20 legitimate broadband trades. Everything else was just a 'dark swap,''' attorney Bill Lerach said. ``This is revisiting Michael Milken and the daisy chain.'' Junk bond financier Milken, Lerach said, moved bonds from one subsidiary to another to create the impression of an active market. In the same fashion, Enron traders swapped broadband contracts to other companies in the nascent market, who would do the same with others, Lerach explained. He said Enron made meaningless trades with Reliant Energy (NYSE:REI - news), El Paso Corp. (NYSE:EPG - news), Level 3 Communications (NasdaqNM:LVLT - news) and Qwest (NYSE:Q - news). ``They all had an interest in keeping the market alive, and they will have to answer to that eventually,'' he said. Continues at biz.yahoo.com With other ENE coverage.... finance.yahoo.com/q?s=ene&d=t