[EAS]Enronic Deals

[pjk]

Subject:   Enronic Deals

http://www.nytimes.com/2002/03/10/business/yourmoney/10STRU.html

Interesting technical article on the "structured finance" entities
Enron was using--and were not alone in using. Such special purpose
entities can sell notes to public investors, and the supply of such
notes today rivals the conventional corporate bond market.
Fascinating and disquieting. Given the byzantine technical
complexities of the more creative arrangements, it becomes clearer
why financial firms are hiring Yale math, science and engineering
graduates.

    --PJK