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Non-Tech : Derivatives: Darth Vader's Revenge -- Ignore unavailable to you. Want to Upgrade?

To: Henry Volquardsen who wrote (1092)6/6/2002 1:03:55 AM
From: John Pitera  Respond to of 2794
 
I've got to agree with your analysis of this.

In this fashion they would receive cash flow upfront and then repay it through the other side of the swap. If you drew out the cash flows of this type of swap and then placed it alongside the cash flow of a loan it would be identical

enron was undeniably funding growth the 18 months prior to Oct 2001 through the creation of debt, and implying with a wink that it was not really debt.

John



To: Henry Volquardsen who wrote (1092)6/28/2002 1:21:35 AM
From: John Pitera  Respond to of 2794
 
Hi Henry please drop me a line when you can. I don't think I have your email these days. I wanted to tell you about what I'm doing these days.

I figured it was time to find a chair since the music has certainly stopped for a while.

can you say AAA credit rating by Fitch?

The eccentric guy who used to "work" with you..... :-)

and thanks for teaching me a lot of really sensible stuff on interest rate differentials.

John


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