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

To: TigerPaw who wrote (2786)	2/13/2002 4:31:22 PM
From: The Duke of URL©	Read Replies (1) \| Respond to of 5185

When Rubin called his buddy at government to save Enron's ass, he was not calling on behalf of Enron, he was calling on behalf of CITIBANK! Of the 2 Billion Citibank loaned Enron (my guess, because I don't know how much stock they have already sold to pay off their original loans), most of which does not seem to be disclosed on the balance sheet, 1 Billion is (was) secured by Enron Stock. Citibank needed to forclose on that stock and dump it in the market, before others (including interests of their own depositors) and the employees of Enron could do the same. TP says, "It's unlikely that the money would have been loaned if they knew the actual financial condition of Enron." What are you, nuts? THE UNDISCLOSED LOANS ARE CITICORP LOANS. TP, STOP BEING so gullable. It was the enactment of REG FD that troubled Citicorp. They could no longer get inside information ahead of their own depositors. That made them "nervous" and THEY pulled the trigger on Enron. Two years ago Citicorp demanded the additional security from Raptor which FORCED raptor to no longer be independent which forced the restatement of the Enron Balance sheet. Citibank knew this TWO YEARS AGO!!!!! I know ya all are from Texas, but get real.