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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: LLCF who wrote (80061)	12/18/2001 11:17:01 PM
From: long-gone	Respond to of 116762

Should someone be asking questions about other banking relationships & derivatives? Bloomberg Enron Enriched Wall Street Firms, Analysts Ignored Warnings Houston: On Tuesday, Oct. 16, Enron Corp. Chief Executive Kenneth Lay delivered a shocker. Late in a conference call that followed the release of the company's third-quarter results, Lay said Enron would terminate one of its several limited partnerships -- and thereby wipe out $1.2 billion of shareholder equity. ``I shuddered when I heard that,'' says Gregory Phelps, who invests $1.1 billion in energy and utility stocks at John Hancock Advisers Inc. and has long avoided Enron. ``But it didn't seem to make much of an impression on part of the investment community.'' Over the next few days, reports began piling up on Phelps's desk from the Wall Street analysts who track Enron. Merrill Lynch & Co., UBS Warburg LLC, Credit Suisse First Boston and Goldman Sachs Group Inc. still rated Enron a ``buy.'' Prudential Securities Inc. analyst Carol Coale wrote that she was ``dismayed'' by management's ``disguise'' of the $1.2 billion equity reduction, yet she kept intact her ``buy'' rating and $55 price target on Enron stock, which was then trading at $33.17.