Reply #57: Well why didn't they just bail old Kenny Boy out?

[Baby Snooks]

They haven't had a problem bailing everyone else out - why didn't they bail Kenny Boy out? Everyone believes Enron was shut down and was insolvent and had no assets and that was the end of the story. It wasn't shut down, had and still has considerable assets, and that was not the end of the story. Why do they believe this? Because that is what the media has told them. Because that is what the media has been told.

In fact it is alive and well and despite the bankrupcty it is still in business and may emerge from the bankruptcy as another company. Or maybe just as Enron. But no, your stock will still be worthless. There will be new stock. Issued to the "equity holders" as I believe they're called but known more commonly as "secured creditors," some of whom probably paid into the settlements knowing they would get part of what they paid back, prior to the public issue of the "new stock" which is what they did with MCI. And the rich crooks get even richer. If that doesn't happen, the rich crooks will still get richer. By buying up the assets for 10 cents on the dollar. Time will tell. Although very little will actually be told by anyone. Not by the media anyway. Which will once again merely run the stories they are given to run.

But the story seems to be proof positive that there is some truth to the old adage about "Oh, what a tangled web we weave..."