Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: mishedlo who wrote (145006)	1/21/2002 10:46:17 AM
From: Tom Smith	Read Replies (1) \| Respond to of 436258

If this letter is genuine, she'll have no problem with future employment....so, when does she testify?

To: mishedlo who wrote (145006)	1/21/2002 11:04:43 AM
From: sun-tzu	Read Replies (1) \| Respond to of 436258

that's about as damaging as it gets.

To: mishedlo who wrote (145006)	1/21/2002 11:07:27 AM
From: yard_man	Read Replies (1) \| Respond to of 436258

Strains on this system of fiat you say?? <vbg> Forbes says the only way out for third world countries mired in economic decline is "dollarization" --- How do you spell con artists -- BIG FAT BANKERS -- who don't they own?? >>Enron entered into several equity derivative transactions with the Raptor entities locking in our values for various equity investments we hold. As disclosed in 2000, we recognized $500 million of revenue from the equity derivatives offset by market value changes in the underlying securities. This year, with the value of our stock declining, the underlying capitalization of the Raptor entities is declining and credit is pushing for reserves against our MTM positions. To avoid such a write-down or reserve in quarter one 2001, we "enhanced" the capital structure of the Raptor vehicles, committing more ENE shares. My understanding of the third-quarter problem is that we must "enhance" the vehicles by $250 million. << ENE is the first banking collapse in this bear market ...

To: mishedlo who wrote (145006)	1/21/2002 11:55:14 AM
From: Ken98	Respond to of 436258

Wow, is an understatement. There's plenty here to string up both the lawyers and the accountants. <<2. Involve Jim Derrick and Rex Rogers to hire a law firm to investigate the Condor and Raptor transactions to give Enron attorney-client privilege on the work product. (Can't use V & E due to conflict — they provided some true sale opinions on some of the deals). 3. Law firm to hire one of the big 6, but not Arthur Andersen or PricewaterhouseCoopers due to their conflicts of interest: AA & Co. (Enron); PWC (LJM).>> Note the specific reference to Vinson & Elkins (V&E) and the notion of conflicts - and what did Lay do? Turn it over to V&E who said "no need to investigate further." This combined with the in-house lawyer who got a NY firm to give a thumbs-down on these deals was more than enough to trigger securities disclosure obligations. Man, there was a complete and total breakdown of EVERY check and balance here. Next question - did Enron have an investment banker on these deals? That's one thing I've not heard anything on.