
Date: Fri, 22 Dec 2000 01:15:00 -0800 (PST)
From: mary.cook@enron.com
To: elizabeth.sager@enron.com, christian.yoder@enron.com
Subject: 3 way exposure reduction trade

Per conversation with christian, and prior discussions with cadwalader i
think the memo of cad is off on cross default too.  i had noted such on my
first read.  i thought what we were after was if one leg is set aside in a
bankruptcy then all legs are "set aside" this being different than
defaulted.  Mary


Cordially,
Mary Cook
Enron North America Corp.
1400 Smith, 38th Floor, Legal
Houston, Texas   77002-7361
(713) 345-7732 (phone)
(713) 646-3490 (fax)
mary.cook@enron.com
