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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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