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To: loantech who wrote (81844)	2/11/2002 11:20:11 AM
From: long-gone	Respond to of 116830

From :spiker <spiker@ev1.net> To :(Recipient list suppressed) Subject :Play the Enron game Date :Mon, 11 Feb 2002 08:43:08 -0700 Ever wonder how Enron did it? Read on. You have two cows. You sell three of them to your publicly listed company, using letters of credit opened by your brother-in-law at the bank, then execute a debt/equity swap with an associated general offer so that you get all four cows back, with a tax exemption for five cows. The milk rights of the six cows are transferred via an intermediary to a Cayman Island company secretly owned by your CFO who sells the rights to all seven cows back to your listed company. The annual report says the company owns eight cows, with an option on six more. You give milk to 70 of the 100 senators and 65% of congressmen so that they won't let anyone look too closely at your books. In gratitude for the milk they set up special deals, giving you exclusive rights to supply cows to India, and subsidize the operation with taxpayer's money. Then India refuses to pay because cows are sacred. Governor Gray Davis (Ca.) purchases long term agreements to be supplied with 100,000 cows a year for 10 years because of the cow shortage. (?) Finally you sell all of the leases, agreements, options, equity, accounts receivable, accounts payable, cows, milk and bull sperm to your neighbors, (so they can get rich like you), put the money in Swiss banks and retire on the income.