Message-ID: <1224664.1075840320497.JavaMail.evans@thyme> Date: Wed, 30 Jan 2002 08:51:10 -0800 (PST) From: lwbthemarine@alltel.net To: eric.bass@enron.com, bass.jason@enron.com, bass.k.@enron.com Subject: Difference between Capitalism, Communism and Enronism Cc: franklin.donnita@enron.com, shanna.husser@enron.com Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit Bcc: franklin.donnita@enron.com, shanna.husser@enron.com X-From: Larry Bass X-To: Bass, Eric , Jason Bass , K. Bass X-cc: Donnita Franklin , Husser, Shanna X-bcc: X-Folder: \ExMerge - Bass, Eric\Inbox X-Origin: BASS-E X-FileName: eric bass 6-25-02.PST Now we know the difference! > On the differences between capitalism, communism and "Enronism": > 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. > Communism: You have two cows. Your neighbors help take care of them and you > all share the milk. > "Enronism": 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 > 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. You hire Arthur > Andersen to revise your books. The annual report says the company owns eight > cows, with an option on one more. > > > >