<HTML>In a message dated 7/26/2002 1:33:20 AM Eastern Daylight Time, mpollak@panix.com writes: <BLOCKQUOTE TYPE=CITE style="BORDER-LEFT: #0000ff 2px solid; MARGIN-LEFT: 5px; MARGIN-RIGHT: 0px; PADDING-LEFT: 5px">If he did, he sure wasn't successful, was he?  As I remember, Enron's rating quickly went to junk and the Dynegy deal accordingly tanked. </BLOCKQUOTE> A friend of mine was on the JPMChase due diligence team that went down to Houston, said the investment bankers involved had no clue (and this was mid Nov) what Enron actually did for a business and how much of their revenues came from 'trading', yet the bank was offering a $1 bln lifeline 11/1. Dynegy said it would acquire Enron 11/9. Enron was downgraded to junk 11/28. Enron declared ch. 11 and sued Dynegy for $10bln for breach of contract 12/2. Dynegy filed a countersuit 12/3 and ultimately got the Northern Gas Pipeline Bus. JPM Chase / Citi offer secured Enron $1.5bln 12/4. My bet's on Dynegy to tank any day now.</HTML>