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To: pbull who wrote (8384)	7/25/2002 12:00:31 AM
From: D.B. Cooper	Respond to of 13815

gREENSPAN is a drolling dribbling idiot Reuters Company News US senator to query Chase, Citi on offshore firms WASHINGTON, July 24 (Reuters) - The chairman of the Senate panel probing links between Enron and J.P. Morgan Chase & Co. Inc. (NYSE:JPM - News) and Citigroup (NYSE:C - News) on Wednesday said he will seek more information from the banks' chief executive officers on offshore entities used in deals with the fallen energy trader. Sen. Carl Levin, head of the Senate Permanent Subcommittee on Investigations, said he will request affidavits from the bank chiefs on the control and ownership of offshore entities key to so-called "prepay" deals with Enron (Other OTC:ENRNQ.PK - News). A spokesman for the Michigan Democrat said the requests seeking the information would be sent out Thursday morning, with a deadline for responses of Monday. "We'll expect the two CEOs to give us the information which the people who showed up here yesterday could not or would not provide us," Levin said in a CNN interview. Levin's subcommittee held a 10-hour hearing on Tuesday that focused on the two banks' roles in deals that subcommittee investigators said provided Enron with billions of dollars in loans through elaborately disguised prepay commodity trades. Enron obtained loans of $8.5 billion over nine years from J.P. Morgan Chase and Citigroup via the transactions, investigators said, adding the deals relied on offshore shell companies known as Mahonia Ltd., based on the island of Jersey, and Delta Energy Corp., based in the Cayman Islands. In the hearing, bank officers fumbled answers to repeated questions from Levin and Illinois Republican Sen. Peter Fitzgerald about who controlled and owned Mahonia and Delta. "We're going to the CEOs and we're going to ask them for an affidavit relative to factual representations about the effective control of those two offshore entities," Levin said.