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Enron Mail |
Rick, I have been having discussions with both Joe Deffner and Jean Mrha on
this one. Clearly, this is a commercial banking product in which we have little competitive advantage unless we take more risk on terminal value or collateral (reserve risk). Ultimately, I have challenged the Upstream Group to define the other parts of the deal that would compensate for this increased risk and the cost of capital uncompetitiveness. Regards Delainey
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