Message-ID: <23895538.1075859676435.JavaMail.evans@thyme>
Date: Mon, 13 Nov 2000 06:58:00 -0800 (PST)
From: peter.keohane@enron.com
To: elizabeth.sager@enron.com
Subject: Master Agreements - Cherry Picking
Cc: mark.haedicke@enron.com, william.bradford@enron.com, jeffrey.hodge@enron.com, 
	shari.stack@enron.com, greg.johnston@enron.com
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Elizabeth, I am responding to your voice mail that today's meeting is 
canceled.  I agree with your suggestion that you, Mark, Jeff, Bill and Shari 
can come to a conclusion and just let us know.

I believe the issues come down to:

1. risk of intentional default by our counterparty

2. risk of unintentional default by us

3. what the market is doing

As agreed at our last call, I reviewed the issues commercially here, and I 
believe the commercial preference is to maintain cherry picking for the 
reasons in 1 above.  Please let Greg and mw know what is decided.