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Banks fall as Congress probes Enron ties
Financial Times ^ | July 23 2002 19:26 | By Gary Silverman in New York and Lydia Adetunji and Peter Spiegel in Washington

Posted on 07/23/2002 5:18:44 PM PDT by DeaconBenjamin

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Remember the mantra: Too Big To Fail, Too Big To Fail...
1 posted on 07/23/2002 5:18:44 PM PDT by DeaconBenjamin
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To: DeaconBenjamin
I may slip down to the bank tomorrow and withdraw a little cash.
2 posted on 07/23/2002 5:21:29 PM PDT by blam
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To: DeaconBenjamin
This is turning out to be one heck of a house-cleaning.
3 posted on 07/23/2002 5:22:45 PM PDT by Clara Lou
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To: All
telling the congressional inquiry that "prepay" transactions were legitimate financing structures used widely on Wall Street

Can someone tell me what a prepay transaction is? Sorry for my ignorance.

4 posted on 07/23/2002 5:26:25 PM PDT by hoosierboy
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To: DeaconBenjamin
Howdy

Jeepers mister Levin, did the FORMER TREASURY SECRETARY OF THE UNITED STATES OF AMERICA UNDER cLINTON have anything to do with abusing the trust of Citicorp to get clinton's buddy ken lay out of the jam that his corrupt dealings with the indian government landed him in?

Lets be careful which rocks we turn over, huh levin baby?

5 posted on 07/23/2002 5:32:17 PM PDT by MoscowMike
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To: hoosierboy
Howdy

You know, its when coporations run like government does. The government loots your social security fund, spends the money on butt floss, then claims its IOU is an asset. This is your government running like a top.

Similarly, Citibank floats Enron a loan to cover their exposed corrupt clinton-screwed back sides, then claims the loan is an Enron asset, not a debt. This is corporate America running a moon sized fraud.

6 posted on 07/23/2002 5:36:04 PM PDT by MoscowMike
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To: DeaconBenjamin
That would explain why Capital One's shares dropped 3.11 to 30.99 today too .... criminy.
7 posted on 07/23/2002 5:36:21 PM PDT by Centurion2000
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To: MoscowMike
Don't ask, don't tell.
8 posted on 07/23/2002 5:39:03 PM PDT by DeaconBenjamin
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To: DeaconBenjamin
Citigroup...Robert Rubin...The Clinton legacy continues!!!
9 posted on 07/23/2002 5:39:53 PM PDT by Sandmansleeper
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Comment #10 Removed by Moderator

To: Sandmansleeper
It is almost over and soon the democrats will get indicted for this giant mess. They have caused and planted thru out the Clinton years.
11 posted on 07/23/2002 5:44:22 PM PDT by TLBSHOW
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To: blam
I would do that, too, but I don't think $10.48 will make much difference.
13 posted on 07/23/2002 5:46:48 PM PDT by RightWhale
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To: DeaconBenjamin
Investigators insisted Citigroup and JP Morgan employees
realised the deals were inappropriate, pointing to internal documents
showing bankers attempting to keep the prepays secret.

My god.  Are we about to go over the edge?

14 posted on 07/23/2002 5:48:46 PM PDT by gcruse
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To: TLBSHOW
One can only hope that indictments will be forthcoming soon...before the November elections would be nice!
15 posted on 07/23/2002 5:49:14 PM PDT by Sandmansleeper
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Comment #16 Removed by Moderator

To: Centurion2000
"That would explain why Capital One's shares dropped 3.11 to 30.99 today too ...."


My understanding is that Capital One's grief is that they under reserved for potential losses in their credit card business. They issue credit cards to sub-prime consumers.

They are not in corporate banking like Citicorp and Morgan/Chase with Enron et al.
17 posted on 07/23/2002 5:53:49 PM PDT by APBaer
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To: DeaconBenjamin
Who do we contact to make them get Rubin to testify?
18 posted on 07/23/2002 6:00:41 PM PDT by MonroeDNA
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To: APBaer
True...however, look for the financials to take a hit because of these latest revelations...hope I'm wrong!
19 posted on 07/23/2002 6:01:53 PM PDT by Sandmansleeper
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To: blam
The Role of the Financial Institutions In Enron’s Collapse
20 posted on 07/23/2002 6:12:25 PM PDT by USA21
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