Abstract
Among the bankers of Enron, J.P. Morgan Chase and Citigroup came in for much criticism. Both analysts and investors believe that they were the big credit institution losers in the Enron débâcle. J.P. Morgan Chase, for instance, provided a wide array of financial services to the bankrupt entity, which ranged from commodities trading to commercial loans, investment banking advice, and deals such as the prepays. In the wake of Enron’s bankruptcy J.P. Morgan Chase was forced to write down $451 million in the fourth quarter of 2001, while leaving more than $2.5 billion of potential losses on its books.
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Notes
D.N. Chorafas, Operational Risk Control, London and Boston, Butterworth-Heinemann, 2003.
D.N. Chorafas, Credit Derivatives and the Management of Risk, New York, New York Institute of Finance, 2000.
D.N. Chorafas, Managing Credit Risk, 1, Analyzing, Rating and Pricing the Probability of Default, London, Euromoney, 2000
D.N. Chorafas, Managing Credit Risk, 2, The Lessons of VAR Failures and Imprudent Exposure, London, Euromoney, 2000.
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© 2004 Dimitris N. Chorafas
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Chorafas, D.N. (2004). The Bankers of Enron. In: Management Risk. Palgrave Macmillan, London. https://doi.org/10.1057/9781403948106_9
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DOI: https://doi.org/10.1057/9781403948106_9
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