[aristeides]

What liability would Citigroup have for this deal?

[gaspar]

If Congress gets tired of Citibank-Enron they could begin an investigation of Citi's involvement with the 8,000 Saudi princes and their huge investments in Citibank stock. From there it could look at the Saudi-American Bank, which is 1/4 controlled by Citi. In reality, Citi is the quintessential multinational, and to call it or treat it as an American corporation is a foolish mistake.

[Fracas]

These guys usually have CYA plans in stone and blood - the corporate version of 'plausible deniability'. The B of D will have insurance.

I've been too busy this morning to look up the answer to a big question: who's the auditor? Could it be Arthur Andersen?

I also wonder if one of the Enron people can assist the investigators by relating other 'oral agreements'. IMHO, the focus on shredding was a red herring to keep investigators from looking at the other issues w/r/t Enron. The Citibank tie is a perfect example.

[Fracas]

I just heard some former SEC exec. on t.v. saying that all the banks were very concerned about corporate liability for fraud. (Very concerned - doesn't that remind you of Lieberman?).