ENRON FOR DUMMIES: Now on KGO 810 in San Francisco

KGO | 1-12-02 | dfu

[doug from upland]

They seem to be having a fairly unemotional discussion of facts by a guy who appears to be an expert. KGO can be heard in several western states.

[Howlin]

Doug, you were on The Beltway Boys tonight!!!! Try to catch it!

[doug from upland]

Witch host just brought up how Bush has been a buddy of Ken Lay. No mention of Clinton.

[doug from upland]

I don't have cable because I seldom watch TV. Thanks for letting me know.

[doug from upland]

I'm on hold now for KGO to ask about India.

[Tuco-bad]

Doug - think derivatives as to why Enron went under.

I assure you that bad Enron bets on energy, or weather or broadband, even if they occurred (which they did not) would not put Enron under.

[doug from upland]

I have mocked you in the past (I think deservedly so), but I think I actually had something nice to say to you a few weeks ago. Did you come over to the right side?

I was able to get in the India question. It appears that Bush took money and didn't give Enron a break. Clinton took money within four days of Enron getting a $3 billion project in India.

I can say that I do not know much about derivatives so I really don't know how to respond. If you would like to share your expertise, I'll listen.

Ken5050 has explained how they really leveraged themselves into trouble, probably with phony evaluations of value. Heck, I showed my real estate law class how the Clintons did that in Arkansas property. It happens if someone wants to suck out cash and bet that someday things go well enough that they can pay it back. Or, in some cases, they suck out the cash from fraudulently appraised assets because they are crooks.

[Hemlock]

Doug, I've heard you on KSFO before. You're an intelligent caller, and I'm looking forward to hearing your comments tonight. Hope you get through.

[Tuco-bad]

Did you come over to the right side?

Heck I have always been on the right side; see my home page: It states I'm the most conservative member of the Free Republic.

I can say that I do not know much about derivatives so I really don't know how to respond. If you would like to share your expertise

With derivatives with perhaps $1 billion you can have a stake in $300 billion worth of action in all kinds of securities, options, currencies etc..

These derivatives are so complex that many times you have know idea where you stand; that is until creditors call in their loans.

Billions can be made in derivatives, but for every winner there is a loser.

BTW - You "ain't seen nothing yet," and I'm not talking about Enron.

[doug from upland]

Thanks. I got through but only for a minute. Just before mky call, Sean Nix read a story about India. During my call, she even commented about Clinton playing golf with Lay. I am quite certain she was a Gore voter.