the CAMP ENRON Report


CAMP ENRON:
... gateway to the next Progressive Era?

Some say it's nothing but a train wreck ... roll in the big cranes, clear the track, see what the crew's been smoking. If I thought so, I'd not be writing this ... and if they thought so, they'd not be drumming so hard.


For a brief orientation, see this
Welcome to Camp Enron

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Camp Enron Archives
01/01/2002 - 02/01/2002 02/01/2002 - 03/01/2002 03/01/2002 - 04/01/2002 04/01/2002 - 05/01/2002 05/01/2002 - 06/01/2002 06/01/2002 - 07/01/2002 07/01/2002 - 08/01/2002 08/01/2002 - 09/01/2002 06/01/2003 - 07/01/2003

NOTE to READERS:
(2) All "major" articles of older material have now been imported, some with updates worth perusing. We'll keep it all on the main page for a while, will add a few loose pieces of history, will trim the main page and index the archives for convenience later.


OUR DEPARTMENTS:

the COGENT PROVOCATEUR:
free agent, loose cannon, pointy stick ... taking an imposing analytic toolkit out of the box, over the wall and into the street ... with callous disregard for accepted wisdom and standard English

reading the tea leaves from original angles, we've led with uncannily prescient takes on the federal surplus, the dotcom crash, the "Energy Crisis", the Afghan campaign, the federal deficit.

More where those came from ... stay tuned.


For brief orientation, see this
Welcome to CP


CAMP ENRON:
... gateway to the next Progressive Era?

For a brief orientation, see this
Welcome to Camp Enron

OTHER GOOD STUFF:
Many thanks to Tony Adragna and Will Vehrs, still shouting 'cross the Potomac at QuasiPundit. Early Camp Enron material can be found in QP's Dispatches department.
Saturday, April 06, 2002

 
--- Feeding Frenzy Updates ---

Bankruptcy Court will appoint an independent examiner for Enron ... now that's a job Volcker could sink his teeth into. Enron creditors don't trust the creditors committee to act in their interest. They don't trust each other ... nor should they. Their interests are not neatly aligned, and the committee is dominated by financial giants that helped conceive the hare-brained schemes that brought it down.

Andersen has reached an agreement in principle to deal some of their US tax practice to Deloitte Touche. (Significant west coast remnants are reported taking refuge at KPMG.) Agreement in principle doesn't mean a done deal. Risk-averse buyer's diligence could make the agreement a dead letter. Creditor litigation could block the deal. Or new legal proceedings against the tax practice -- possibly unrelated to Enron -- could render the spoils unpalatable to any scavenger whatsoever.

My take again -- the Final Four would be unwise to board and salvage Andersen's sinking ship. Better to loiter on station and fish individual survivors out of the lifeboats.