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Ken Lay's Collateral
This fall, as Enron was going
down, Chairman Ken Lay was desperately trying to raise cash.
In a meeting with top bankers,
Lay presented a list of all the collateral the company had for a new loan. There
were pipelines, contracts, receivables, a half-built plant in India -- quite a
list.
But the bankers told him it
wasn't enough: "Isn't there ANYTHING else you own that is fully paid for,
that you can put up?"
And no one has seen Dick
Cheney since.
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