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Strategies & Market Trends : DAYTRADING Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: gwb-trading who wrote (15150)	2/4/2002 2:16:37 PM
From: Raymond Duray	Read Replies (1) \| Respond to of 18137

gwb-trading, Marvelously circular and convolutional logic. I'm impressed. But hardly convinced. Re: . It was due to shady off-book partnerships that served to enrich corrupt executives that had no direct involvement in energy trading. There is a strong case that can be made that the tipping point to Enron's demise was the Western wholesale electrical market price caps that were imposed by FERC on June 19, 2001. It was at that date that most of Enron's Western market OTC swaps went deeply underwater. It was indeed a trading problem. Or more correctly stated, a problem with a corrupt obsolete horse-trading mentality applied to a modern, sophisticated business. Furthermore, as you correctly state, this was an unregulated activity. What was unregulated was trading. Trading OTC derivative, trading loans for fictitious income, trading employees futures for ST tax haven gains for insiders. Oh, yes, this is all about trading. As Sen. Peter Fitzgerald (R.-IL)said earlier today "Enron was beyond all hat and no cattle. It was beyond bull....." -Ray