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.

Non-Tech : The Enron Scandal - Unmoderated -- Ignore unavailable to you. Want to Upgrade?

To: DOUG H who wrote (782)	1/28/2002 1:31:58 AM
From: Raymond Duray	Read Replies (3) \| Respond to of 3602

Well Doug, I took your quarter and invested it in a long term London atmospheric swap, dated Jan, 2012. You took both sides of the trade and immediately booked the profit to this quarter's 10-Q, applying the counter-party risk to our Jersey operations, the market risk to Abu Dhabi, the currency translation risk to the Caymans and of course, our remaining 400 SPEs covered the rest of the residual risk. You have booked an 800% gain on the transaction and because for the most part this was an off shore transaction, there is of course no income tax implication. Congratulations, you've just booked 200% of this year's bandwidth bonanza from the online pornography trade, though I don't quite understand why so many are intrigued by mere images of flesh when we are being so titillated by the actuality of inventing money in cyberspace in such extraordinary leaps and bounds like the planet has never seen. This is the excitement of pure financial alchemy, the brilliance of it all is so completely wonderful. Congratulations on your role as the world's biggest pornographer. Alas, Ken Lay's reign was so short lived. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ BTW, did you see Maureen Dowd's editorial in the NY Times today? One of her absolute best. She's in rare form with a racy topic like the Enron Beach & Massage Club. -R.