Enron Mail

From:reagan.mathews@enron.com
To:d..thomas@enron.com, david.ingram@enron.com, brian.terp@enron.com,nick.hiemstra@enron.com, kyle.simson@enron.com, michael.seely@enron.com
Subject:FW: ENE Economics
Cc:
Bcc:
Date:Sun, 11 Nov 2001 22:57:21 -0800 (PST)


< < *******************=20
< < Feudalism=20
< <=20
< < You have two cows.=20
< <=20
< < Your lord takes some of the milk.=20
< <=20
< < ----------=20
< <=20
< < Fascism=20
< <=20
< < You have two cows.=20
< <=20
< < The government takes both, hires you to take care of them and sells you=
=20
< < the=20
< < milk.=20
< <=20
< < ----------=20
< <=20
< < Pure Communism=20
< <=20
< < You have two cows.=20
< <=20
< < Your neighbors help take care of them and you all share the milk.=20
< <=20
< < ----------=20
< <=20
< < Applied Communism=20
< <=20
< < You have two cows.=20
< <=20
< < You must take care of them, but the government takes all the milk.=20
< <=20
< < ----------=20
< <=20
< < Totalitarianism=20
< <=20
< < You have two cows.=20
< <=20
< < The government takes them both and denies they ever existed.=20
< <=20
< < Milk is banned.=20
< <=20
< < ----------=20
< <=20
< < Pure Democracy=20
< <=20
< < You have two cows.=20
< <=20
< < You and your neighbors decide who gets the milk.=20
< <=20
< < ----------=20
< <=20
< <=20
< <=20
< < Mexican Democracy=20
< <=20
< < You have two cows.=20
< <=20
< < The government takes both and drafts you into the army.=20
< <=20
< < ----------=20
< <=20
< <=20
< <=20
< Pure Capitalism=20
< <=20
< < You have two cows.=20
< <=20
< < You sell one and buy a bull.=20
< <=20
< < Your herd multiplies, and the economy grows.=20
< <=20
< < You sell them and retire on the income.=20
< <=20
< < ----------=20
< <=20
< < Enron Venture Capitalism=20
< <=20
< < You have two cows.=20
< <=20
< < You sell three of them to your publicly listed company, using letters o=
f
<=20
< < credit opened by your brother-in-law at the bank, then execute a=20
< < debt/equity=20
< < swap with an associated general offer so that you get all four cows
< back,=20
< < with a tax exemption for five cows. The milk rights of the six cows ar=
e
<=20
< < transferred via an intermediary to a Cayman Island company secretly
< owned=20
< < by=20
< < the majority shareholder who sells the rights to all seven cows back to=
=20
< < your=20
< < listed company. The annual report says the company owns eight cows,
< with=20
< < an=20
< < option on one more.=20
< <=20
< <=20
< _____________________________________________________________________=20
<=20
<=20


=03****************************************************************
Bear Stearns is not responsible for any recommendation, solicitation,=20
offer or agreement or any information about any transaction, customer=20
account or account activity contained in this communication.
***********************************************************************