Message-ID: <16075151.1075840320377.JavaMail.evans@thyme> Date: Wed, 30 Jan 2002 19:37:24 -0800 (PST) From: brettlawler@hotmail.com To: eric.bass@enron.com Subject: Fwd: Enron story Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: Brett Lawler X-To: Bass, Eric X-cc: X-bcc: X-Folder: \ExMerge - Bass, Eric\Inbox X-Origin: BASS-E X-FileName: eric bass 6-25-02.PST Eric, I'm sure by now u've seen this. Is your e-mail addy gonna stay the same? >Subject: Enron story >Date: Wed, 30 Jan 2002 18:55:13 EST > >An update on an oldie - > > > How to Explain Enron to Your Children: > > * Feudalism - You have two cows. Your lord takes some of the milk. > > * Fascism - You have two cows. The government takes both, hires > > you to take care of them, and sells you the milk. > > * Communism - You have two cows. Your neighbors help take care of > > them and you share the milk. > > * Totalitarianism - You have two cows. The government takes them > > both and denies they ever existed and drafts you into the army. > > Milk is banned. > > * Capitalism - You have two cows. You sell one and buy a bull. > > Your herd multiplies, and the economy grows. You sell them and > > retire on the income. > > * Enron Venture Capitalism - 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 the > > majority shareholder 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 one more. > > > > _________________________________________________________________ Send and receive Hotmail on your mobile device: http://mobile.msn.com