How Wall Street Greased Enron's Money Machine

The Wall Street Journal ^ | Monday, January 14, 2002 | JOHN R. EMSHWILLER, ANITA RAGHAVAN and JATHON SAPSFORD

[TroutStalker]

In March 1995, Enron Corp. executive Andrew Fastow approached Philip Pool, a banker at Donaldson, Lufkin & Jenrette Inc. with a tantalizing offer.

As an official of a prized DLJ corporate client, Mr. Fastow wanted DLJ's help to raise money for a partnership the Houston energy company was putting together. The partnership, Mr. Fastow said, would help Enron by buying assets from the company and keeping debt off its balance sheet. Too much balance-sheet debt would lower Enron's credit rating and hinder growth.

[gaspar]

Remember the name Andrew Fastow. Recipient of many awards (by people who could not figure out the games he was playing both on and offshore), he will be the star of the Enron mess.

[Jackie]

To: All

I hate to say it:

I told you so!

[Free the USA]

Bump List

[cynicom]

Seems all too fitting when the "experts" get taken to the cleaners.