Enron Mail

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
Bcc:franklin.donnita@enron.com, shanna.husser@enron.com
Date:Wed, 30 Jan 2002 08:51:10 -0800 (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.
<
<
<
<