[Outside of Scope)

RaollSM 6/13/01

00500000002134


you get a chance. Also, please remember to update Michele of any important press items.

00800000000136


Engelhard, Joe

From: info@institutionalinvestoron|ine.com
Sent: Friday, December 14, 2001 5:16 PM

‘oO: lIMagazine.COM Newsletter
Subject: Institutional Investor Online - News Blast

NO <http://www.institutionalinvestoronline.com/iionline/emails/images/iio_html_email_header.gif>
Home <http://www.institutionalinvestoronline.com/index.htm> Research and Rankings
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<httpy hwewew aarp et tape staple ie hat ler ies Atm>

Welcome to the weakly Institutional Investor ‘Online or blast! "

This weekly e-mail provides direct links to the most recent top stories available for FREE on Institutional
Investor Online <http://www.institutionalinvestoronline.com/> and selected articles from ali 40
Institutional Investor publications.

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<http:/www.institutionalinvestoronline.comilion! .gif>
Top Stories
shttp://veww.J nfo ystems ap aber trae er, Am pitmi_« email_topstor_head.gif>

<hito: A es ema if> TECHNOLOGY
Fidelity Seeks Petners ; Help Advisors Grow Business
<http://www.institutionalinvestoronline.com/liochannel/technology/20011213000969.htm>
Fidelity Investments is negotiating to align with several companies that will provide financial advisors with
services to help them increase business.
Read Full Story
<http://www.institutionalinvestoronline.com/iiochannel/technology/20011213000969.htm>
Source: Financial Netnews <http://wew,financiainetnews.com/>

1S ing ails: CORPORATE FINANCE
Swiss On A Roll: Euronean CoO Pioneer Plots 15 3. Entry
<http: //www.institutionalinvestoronline.com/liochannel/corporatefinance/20011213000653.htm>
Capital Dynamics, the Swiss firm known for trail-blazing the first private equity-backed collateralized debt
obligation, is preparing a move to New York to fire up a U.S. operation.
6

00500000000310


[(b)(5) and outside scope]

01200000001163


[OUTSIDE SCOPE , (b)(5)]

01200000001158


00200000000047


Thanks.

Greg ip

Economics Reporter

The Wall Street Journal
202-862-9238 (office)

{(b)(6)] weer

-+----Original Message--<--

From: Betsy.Holahan#do.treas.gov [mailte:Botsy.Holahanddo.treas.gov]
Sent: Tuesday, December 04, 2001 11:56 AM

To: Ip, Gregory

Subject: Interview Request

Greg,

Can you e-mail me more specifics about the derivatives story you are working
on? What types of things you would like to discuss with Peter, etc. Thanks!

Betsy

00800000000132


5, 1 “TP/ST. 1)-08-NO 29 3)
FROW racounee! wheat its 11:08/NO. 4260060906 P|

THE WORLD BANK
OFFICE OF THE U.S. EXECUTIVE DIRECTOR
1919 H Street, NW Room MC-13-525
Washington, DC 20433

DATE: NUMBER OF PAGES INCLUDING COVER SHEET.

fo f. ot fi Br top]
Muasiuée halls

FAX NUMBER:

FROM: Robin R, Rinerhoff, Executive Director's Assistant

TEL: (202) 458-8049
FAX: — (202) 477-2967

MESSAGE:

A ABctssed - Twheah Let.

00800000000043


{(b)(5) and outside scope]

01200000001161


Davis, Michele

_——$——_—<—<—$ me _

Sent: Monday, one 14, 2002 7:32 PM
nt:
bbe Adams, Tir

Nichols, Robert; Marien, John
Subject: RE: Congressional Hearings on Enron

yes, we'll make a staff assistant available to gather info as needed. Marie, whatever they need, please ask Sharon to do

—~Onginal Message----
From: Adeers, Tim
Sent: Monday January 14, 2002 6:05 PM
Tor Davis, Michele
Ce:

Nichols, Robert
Subject: Congressional Hearings on Enron
Michele -- Baap tebe elgg pele pombe hlgy gered lame David Aufhuaser and John Duncan are

setting uj someone (or multiple somones) from
Sra Pest peat con bul build timelines, ee erie terete theke ‘ a

00800000000082


JAN £3 Z8@2 45:97 -FR EES LEGAL GET. 713 853 3523 TO 312826228393t _..-P .@ivaLr=

CHS
ergs John L. Garrison
At Prdewr and
Azurix Tama
J 17, 2002 QS
— january {~$
SBS Cay Sarees, Sete 1000
Hon. Joseph Engiehare Hemcam, TX 77002-T3I
Deoutfmesistant Secretary TI SGREALL
for Trade and Investment Fat TSAESSTT
Department of Treasury er Pe

Wasnangtan. OC
Fax: (202) 622-0391
Oear Joe:

{(b)(4)]

GLOBAL WATER SOLUTIONS

00500000000022


[Outside of Scope]

00800000000141


Sampliner, Gary

From: Rao, Geetha

Sent: Tuesday, June 26, 2001 10:04 AM
To: Christopulos, Greg; Sampliner, Gary
Ce: Grewe, Maureen

Subject: RE: Clearance on Enron TPs

Thanks Greg. | would suggest a minor adjustment as indicated below, Gary, pis let me know if you have any concerns?
If not, | need to notify NSC asap of our suggestions on the talking points. thanks.

From: Crristopulos, Greg
Sent: Tuesday, dine 26, 2001 9:$1 AM
To: Rao, Geetha; Sampliner, Gary

Cc: Grewe, Maureen
Subject: RE: Clearance on Enron TPS:

(()(5)]

Sent: Monday, June 25, 2001 6:31 PM
To: ‘Sampiner, Gary; Christopulos, Greg
ce Gewe, Maureen

Subject: Clearance on Enron TPs
Importance: High
Gary! Greg :

Sec, ONeill will be meeting with Brajesh Mishra (Indian National Security Advisor) this friday to
discuss, among other issues, Enron. As disucssed at the NSC meeting last week, here are the talking
points for the Enron disucssion that are being sent to all (most?) USG officials who are meeting with
Mishra, Please comment asap and | can forward any concems you have to NSC. thanks.

{(b)(5))

01000000001143


To; Josh
From: Sheila
Re: Policy Issues Presented by the Enron Bankruptcy

Per your request, below are some of my personal thoughts on the important policy issues
presented by the Enron bankruptcy and some areas that might be ripe for reform.

In sum, possible initiatives include:

((o(5))

00800000000077


(See attached file: Enron.doc)

Bob Elsasser

Government Securities, FRBNY
robert .elsasser@ny.frb.org
212.720.1234

Engelhard, Joe

From: info@iimagazine.com

Sent: Wednesday, October 31, 2001 4:35 PM
To: lIMagazine,COM Newsletter

Subject: Institutional Investor Online - News Blast

& 42

Welcome to the Institutional Investor Online <http./www.institutionalinvestoroniine.com/> news blast!
This weekly e-mail provides direct links to ail of the most recent top stories selected from all 48 Institutional Investor
shito://werw.institutionalinvestoroniine.com/>

‘shttp:/www institutonalinvestoronline.cony>

publications, available for FREE on Institutional Investor Online. <bitp: Al

[TOP STORIES THIS WEEK|

‘<http://www.institutionalinvestoronline.com/iiochannel'technology/> ECHNOLOGY
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CORPORATE FINANCE <httpv/www_institutionalinvestoronline.comvilochannel/corporatefinance!>

Enron Said To Be Takeover Target, Shell Tipped As Possible Bidder
‘Source: Power Finance & Risk <httpolwww spower.com’>
Enron, which 12 months ago was the darling of the energy markets, has become increasingly vulnerable to a takeover bid
following the recent collapse of its share price. Royal DutctyShell is one likely bidder, said bankers, noting that Enron's
relatively modest market capitalization—down to $11.5 billion late last week from a high of more than $55 billion—-means
that Shell and other potential acquirers wouki have little trouble digesting it whole.

13

00500000000317


Davis, Michele

From: Davis, Michele

Sent: Wednesday, December 05, 2001 3:24 PM

To: Scolinos, Tasia

Subject: Fw: PRESS BRIEFING BY ARI FLEISCHER
(PERS pce

From: 2aul Ashin@who.eop.gov <Paul_Ashin@who.eop.gov>

To: Michele. Davis@co.treas.gov <Michele.Davis@do.treas.gov>
Sent: Wed Dec 05 16:14:12 2001

Subject: PRESS BRIEFING BY ARI FLEISCHER

Here’s what Ari said, Full text of briefing below,

"One update. As a result of the action the President took yesterday
in the fight against <nternational terrorism on the financial front, I want to
repert to you this morning that over $5 million has been blocked in assets
belenging to the Holy Land Foundation, And as a result of the freezes and
blocking orders the President has implemented on the financial front worldwide
against the war on terrorism, more than $61 million has been either frozen or
blocked around the world.”

- Forwarded by Paul Ashin/WHO/EOP on 12/05/2001 02:17 PM

Tracy Young
12/05/2001] 03:10:28 2M

Record Type: Record .

To: Ali CiC-DC Users

ee:

Subject: PRESS BRIFFING BY ART FLEISCHER

«==. - Forwarded by Tracy Young/WHO/EOP on 12/05/2001 03:10 PM

(Embedded image moved to file: picl8066.pcx) Rachael L. Sunbarger
12/08/2001 02:12:45 PM

Record Type: Record

at

°

00800000000112


Matsushita Electric Corporation of America
McDermott International Inc,

Merck & Company, Inc.

Methanex Ine.

Miami Valley Marketing Group, Inc.
Michigan Manufacturers Association

Milk Industry Foundation

Minority Business Roundtable

Motor and Equipment Manufacturers Association
Motorola Inc,

National Association of Manufacturers
National Association of Wheat Growers
National Cattlemans Beef Association
National Cheese Institute

National Corn Growers

National Council of Farmer Cooperatives
Nationa) Customs Brokers & Forwarders Assn
National Electrical Manufacturers Association
National Food Processors Association
National Foreign Trade Council

National Mining Association

National Oilseed Processors Association
National Pork Producers Council

Nestle USA Inc.

New Democrat Network

New York Life Insurance Company

Nike Inc.

North American Association of Food Equipment Manufactures

Novartis Corporation
NPES, The Association for Suppliers of Printing
OBC Group
Officemate Software Solutions
Ohio Manufacturers’ Association
Oklahoma State Chamber of Commerce & Industry
O'Melveny & Myers
Pacear Inc.
Pacific Basin Economic Council
Packaging Machinery Manufacturers Institute
Pappas Associaties International Inc.
Paraguayan-American Chamber of Commerce
Patton Boggs LLP
Pepsico Inc.
Pet Food Institute
Pfizer Ine.
Pharmaceutical Research and Manufacturers of America
Philip Morris Companies Inc,
Philippi-Hagenbuch, Inc.
Pioneer Hi-Bred International Inc.
Plumbing Manufacturers Institute
PolicyComm
Powell, Goldstein, Frazer & Murphy
Precision Machined Products Association
in Lup

PricewaterhouseCoopers

Prosper International Business Accelerator
Prudential Insurance Co. of America

R.A. Pearson Company

Ravensworth

Raytheon Company

Reale & Associates

Reebok International

Rem E;

syewear
Riverdale Mills Corporation

00500000000324


PPEIEMSSSTES EE ESHA AL EE BHAA 444 9

it

t= Couerm PF med tue baw be Sy

 ((by(5)

01200000001193



Thay WED} | Ji 211 ST. 1b:08 NO. 4269080906 1
FROM racounlee dina ria
THE WORLD BANK
OFFICE OF THE U.S. EXECUTIVE DIRECTOR

1313 H Street, NW Room MC-13-525
Washington, DC 20433

DATE: NUMBER OF PACES INCLUDING COVER SHEET

78 otf, Ou off
fl wEbnbL bls
FAX NUMBER:

FROM: Robin R. Rittechoit, Executive Director's Assistant
TEL: (202) 438-3059
FaX: (202) 477-2967

MESSAGE:

fi AS chesentt - [wht Cefn.

00800000000035


[OUTSIDE SCOPE , (b)(5)}

01200000001157


Engelhard, Joe

From: Kitty Brims [KBRIMS@nam.org]
Sent: Monday, October 29, 2001 1:34 PM
To: US Trade
Subject: USTrade: Press Release and House Letter - PDF FILE
Importance: High
, 7
2 4 8 #8» & of
100808 ptt (Tease Henan TPA, neato sr nenser nem tener ee me
toe 1028

USTrade today urged the House of Representatives to pass Trade Promotion Authority before the
WTO ministerial meeting in Doha, Qatar, beginning November Sth. In addition to calling for a firm
date for the House vote, USTrade released the text of a letter to Congress signed by nearly 350
companies and associations, endorsing H.R. 3005, the Bipartisan Trade Promotion Authority Act of
2001. For the text of the press release and the letter, please open the attachments.

You will need Adobe Acrobat software to open the last document. |f you do not have it on your computer, you can
download it for free at www.adobe.com,

Letter to full House

October 29, 2001
Dear Congressman/Congresswoman:

We, the undersigned organizations and companies comprising the USTrade coalition, urge you to support H.R.
3005, the Bipartisan Trade Promotion Authority Act of 2001. This important legislation will advance U.S.
interests in bilateral, regional and global trade negotiations.

H.R. 3005 is a well-balanced bill. It will allow the United States to move ahead with new trade
agreements while also promoting worker rights and environmental protection abroad. Itis a
reasonable compromise that will enable the United States to spur economic growth, exercise
leadership, and provide new opportunities for American companies, workers and their families.

Trade Promotion Authority will enable the President to reduce foreign barriers and to expand American trade; it
is badly needed in this time of great economic uncertainty. The bipartisan TPA bill also assures that American

values will be advanced in a constructive way that will not drive trading partners away from the negotiating
table.

We urge your support for H.R. 3005, and look forward to passage of this important legislation.

Sincerely,

3M

AJ. Amunes & Co.
A.O. Smith Corporation
ABB, Inc,

16

00500000000320


FRM (ED) 1. 24° OF 11:11/ST. 1) 208-NO. 4260060996 2 2

AMERICAN-TURKISH COUNCIL — gexemas

StS {StH St., NW, 71H FLOOR «. ue
WASHIMaTON DC, 200065 Pacrioeer
PHONE: 202-763 0463

Fax: 202-783 0511

EMAte: alc @americanturkishcounell.erg

FAX COVER SHEET

Dare: 23 January 2001
Mr. Todd Crawford

To:
FM: Thomas Briggs

wax: 202-477-2967

TOTAL PACES (INCLUDING THIS Cover SHEET: 3

IP THERE IS A PROBLEM WITH THES FAX, PLEASE CONTACT THE ATC OFFICE AT
202-783 0403.

The aecompenying material it for the Private information of the addressee. and should no! be
Intemreted os 9 solicitation of call to action regarding any legislation or senior administrative
executive or legisiative action.

. d+ a
ot - Au * » ——
¥ at
ae *

MESSaAGc;

Website (odaress: www.americanturkishcounct!. Oty:

ATCLLA Kwonness association dedicated to the Friendship and the Promotian of U.S.-Turkish
Commercial, Defense and Cuiturat Relations,

. 00800000000040


eet

Subject: FRESS BRIEFING BY ARI FLEISCHER

THE WHITE HOUSE

Office of the Press Secretary

For Impeciate aelease Becember 5, 2001

PRESS BRIEFING BY
ARI FLEISCHER

INDEX

President's schedule.........
Blockec essets/amount to date
President's authority/bombing
Afghanistan/new government /Wh:
Middle East/Chairman Ar .

President's conversations with Sharon, Zinni
Friendly fire deaths.
Trade authority vote,
Trade adjustment assistanc

Enron... bee e seen eeenene beeeeee
U.S. forces in Afghanistan after war.
Defense bill/homeland security money.
Partisanship/Senator Hatch's remarks.
Stimulus packag
New RNC Chei
EPA decision ae
Osana bin Laden/dirsty

THE WHITE HOUSE

Office of the Press Secretary

For fruediate Release December 5, 2001

PRESS BRIEFING BY
ARI PLEISCHER

The Janes 8. Brady Briefing Roce

12:05 P.M. EST

MR. FLEISCHER: Good afternoon. Let me walk you a little bit through the

schedule, and I'll be happy to take questions.
s

0800000000113


CONFIDENTIAL

Retail Swaps Interview with Enron on August 2, 2001,

Christopher Long, Vicki Sharp, Ken Raisler, Scott Gahn, and Mark Taylor represented
Enron at the interview,

((b)(5)}

{(b)(5)]

02430

01300000001039


From: Davis, Michele

Sent: Wednesday, November 28, 2001 5:05 PM
To: ‘Chris Anstey’

Subject: RE:

We are monitoring credit markets, as we do every day.

That’s all I'm going to say. Monitoring is monitoring -~ it’s a pretty self-explanatory
term!

“Original Messaq
From: Chris Anstey [mailto:chris.anstey@afxnews.com)
Sent: Wednesday, November 28, 2001 2:50 PM

T michele.Davis@do.treas.gov

Subject:

Michele,

Is Treasury concerned about Enron's situation, given that it controls 25 4%
of all electric power trades? And could you specify what Treasury is doing
in terms of aonitoring the situation (Ari Fleischer said earlier that "the
{Enron} situation is being monitored by the Treasury and I would have to
refer you to them.")

Regards,

Caris.

00800000000139


[Not Responsive]

00500000001320


Davis, Michele
— —

From: Davis, Michele

Sent: Th , January 10, 2002 1:51 PM
To: Fisher, Peter

Cc: Hart, Anns

Subject: Enron

{(b)(5)]

00800000000091


((b)(5)]

00300000000126


{(b)(5) and Outside of Scope]

0020000000146


[OUTSIDE SCOPE , (b)(5)}
© Enron has three defined benefit plans with 26,000 participants.

Attachments

01200000001159


From: Geoftrey Gottlieb

To; EICHENBERGERJ, StewantEK
Date: 31100 7:48pm

Subject: Enron and Ass.Sec of Energy Trip

ACTION; On a conference call Friday nightm the Assistant Secretary of Energy Goktwyn notified us that he wil be visiting Nigeria
next week as a follow-up to Sec. Richardson's trip two weeks ago.

((b)(5)]

We need to provide guidance to his office no later than 1:00pm Monday.

{(b)(5))

Please call me if you have further questions.
ce: Radelets, budingtonm

00500000000872


((b)(5)]

01200000001190


Davis, Michele

Sent. Ronday, January 07 2002 4:04 PM

‘4 ay, .

To: Bradshaw, Tara, Fratto, T

Subject: RE: Tax havens & Enront this wil be fun

((b)(5)]

--Original Message-----

rem: Bradshaw, Tara

Sent: Monday, January 97, 2002 3:31 PM

To: Fratto, Tony: Davis, Michele

Subject: Tax havens & Enron! thia will be fun
Importance: High

Oricinal Measage-----

From: HEIDI PRZYBYLA, BLOOMBERG/ WASHINGTO
[mallrto:HPRZYBYLA@bLoomberg.net)

Sent: Monday, January 07, 2002 3:23 FM
To: Tara. Sradshawédo,treas.gov

Subject: Re:

hey Tara. Thenks for the quick response. These are the questions we need

answered from Treasury: 1) Has there been any contact between the administration
and Enren whatsoever on the issue of tax havens 2) What if any was Enron’s
role in the Susn administration's position on the OECD initiative and 3) Will

Treasury investigate Enron's use of offshore subsidiaries. thanks for your
help. Also Tony returned my call while we were on the phone s0 can you pla.

forward this to him?

00800000000076


Davis, Michele

From: Davis, Michele
Sent: Friday, January 11, 2002 1:36 PM
To: Holahan, ect
Subject: RE: Enron CNBC requests
no, just decline
—--Ongnal Message-—-~

From: Holanan, Betsy

‘Sent: Friday, January 11, 2002 1:21 PM

To: Davis, Michele

Subject: Enron CNBC requests

Importance: High

COAG Guahiens Cannet (ater 6 pnt and piateet Wien (4-20 xr) programmes both weet Pater Wey 1 will call to decline

unless there is someone else you want to send in his place.

00800000000085


Mcinerney, Roberta

From: McInerney, Roberta

Sent: Wednesday, August 29, 2001 7:14 PM
To: Carleton, Norman
‘Subject: RE: Status of Retail Swap Stucy anc the Enron Issue

I think your approach is great.

et ee

Fromt (Carleton, Norman

Sent: Wednesday, August 29, 2001 4 1:15 AM

To: Fisher, Peter; Roseboro, Bair, Sheila; Nickoloff, Peter; Schulthess, Heitlynne; DeMarco, Edward; Hughes, Gerry; Gross,

Brian; i; a
Jared; Sith, Amy; Sutton, Gary; Eliest, Martha; Gatfondo, Jose; Mcinemey, Roberta; Lori Sanatamnorena (E-maé)
Subject: Status of Retail Swap Study and the Enron Issue

((b)(5)]

00200000000046


MR. FLEISCHER: I'd refer you to the State Department.

Q Ari, in light of the Army's decision to reverse itself on Captain
Burlingame, can you tell us how and when the President was advised of that
situation? Also, the President's thoughts on that?

MR. FLEISCHER: Yes. As I indicated this morning, this is a matter for the
Department c+ Defense, the Department of Army, specifically. And I don't have
anything beyond that.

° Do you know if the President was at least aware of it?

MR. FLEISCHER: As t say, I don't have anything beyond that.

Q Ari, why do we have to be referred to the State Department on that? I
mean why can't we == can't we know if the administration is having conversations
with Yasser Arafat?

MR. FLEISCHER: Because I think you'll get -- well, if you ask me about the
President, I can report to you the President has not. If you ask about
Ambassador Zinni --

Q -- the Security Council? I mean, obviously, everybody around here
knows, don’t they?

y FLEISCHER: Well, I don't have a phone list of everything that Zinai is
aoing. He's in the Mideast --

Q That's not the ‘issue. Are there -- do you know of any contacts with
Yasser Arafat?

MR. FLEISCHER: His direct report is to the State Department, which is why
I said refer you to the State Department.

Q But everybody reports te the President, don’t they? I'm asking you as
the President's spokesman why you can’t comment on whether the administration
has contact with Yasser Arafat when they're in the middle of war over there.

MR. FLEISCHER: Well, if you ask me about the President, I'll give you that
answer,

ced Ari, following up on this situation at Arlington, we just spoke with
the spokesman for the Army Secretary who ys there has been no reversal, that
they can bury this man in an existing family plot, but not in a separate grave
as his family has requested. What are the prospects that the President sight
got involved and overrule this?

FLEISCHER: Well, again, I said this is 4 matter for the Department of
the Department of Army. If there's anything further to be addea to it,
you will know from the White House.

But these are always very sensitive and difficult matters. Arlingten
National Cemetery Ls the final resting place where countless numbers of
Americans want to be buried. Arlington National Cemetery is also a place that
ls running cut cf space. It makes for some of the most difficult emotional
issues for the families of loved ones who have been lost in any type of military
or any other type of action, having served in the military, also with a nation
that wants to honer ita promises to pecple who will be able to be buried into
Arlington in the future,

It is always a very emotional and difficult issue, and the military has
very stringent rales that they try to comply with, because it makes it easier
for everybody to understand wnat the criteria are. So that's why the Department
of the Army is the one who is charged with this. They worked very hard at it,
and they understand the sensitivities involved.

0800000000117


Davis, Michele

Sent: January 10, 2002 4:28 PM
To: Dove icnele Alloy :
Subject: FW: Secretary on FoxNews "Your World with Cavuto” at 4:00p Today

this is the ABC GMA guy

Roh Nichols

Deputy Assistant Secretary for Public Affairs
Department of the Treasury

{202) 622-2920

-Original Messege----~

From: Wheelock, Robert S. |[mailto:Robert.S.wheelock@abc.com}

Sent: Thurscay, January 10, 2002 3:06 2M

Teo: ‘Robert.Nichols@do.treas.gov’

Subject: RE: Secretary on FoxNews "Your World with Cavuto” at ¢:00p
Today

any chance that the Secretary would be available tomorrow to talk
1) Enron

2) Terroris: Financing

3) Economy, taxes, budget

= left a massege with your office and have a call into Adam Levine at the
WH as well.

Thanks

bint taio Origins. Message-----

From: Reber tehols@do.treas.gov [mailto:Rabert .Nichols@do.treas.qov)
Sent: Thursday, January i0, 2002 11:33 AM

Subject: Secretary on FoxNews “Your World with Cavuto” at 4:00p Today
importance: High

Rob Nichols

Deputy Assistan= Secretary for Public Affairs
Department of the Treasury

(202) 622-2910

The Secretary will appear in an interview on FoxNewsCH “Your World
with Cavutc” at 4:00p teday. Topices of discussion will be the economy and
terrorist financing.

00800000000277


MEMORANDUM FOR ASSISTANT SECRETARY BAIR

THROUGH: Edward J . Demarco
Director
Office of Financial Institutions and GSE Policy

FROM: Neal McCall

SUBJECT: December 17, 2001 Meeting of the Pension Benefit Guaranty
Corporation's Advisory Committee

{(b)(5)]

01200000001188


nN

[(b)(5) and outside of Scope]

00200000000145


So are we to take the initial part of your response as an indication
that the President might get invelved? You said --

MR, FLEISCHER: Ne, I just said to you -- you asked me and I told you, you
know where it stands, that the Department of the Army made the announcement made
this morning, and that’s where it stands.

2 To follow up on Ken's question and the point he was making on the
Middle East, why can’t you tell us as the White House spokesman, what, if any,
contacts White House officials -- Card, Karl Rove == has had on this issue with
the Department of the Army?

MR, FLEISCHER: Oh, I thought you were asking about, again, Zinn‘ and
Arafat. The Department of the Army?

Q Well, again, I'm asking you to tell us what contact --

MR, FLEISCHER: Ron, I'm not aware of any. If T had something to report, I
would report it.

Q Can you check to see whether or not there has been any contact or if
the White House is involved in this?

MR. FLEISCHER: I raised it this morning, and I had nothing to advise you
of. If I had something to advise you of involving the President or the White
House's involvement in this case at Arlington, I would advise you of it.

° So you're saying the White House hasn't been involved as far as you
«now?

MR. FLEISCHER: There is nothing that I’ve been made aware of.

@ Ari, two things, real quick. On Ann*s question, is the President
planning, or has he talked to the families of those soldiers who were killed?

MR, FLEISCHER: Ill try te let you knew. And as you know, the President's
habit has been to send notes to the families. But if there is anything, I'11
let you know.

Q And a second question, quickly. The President, since September the
tith, has showed extreme patriotism, brandishing his flag, talking about this
country, the love of this country. What are his thoughts about the American who
has fought for the Taliban and his patriotism?

MR, FLEISCHER: Well, the President's first thought is that we need to é
collect the facts about what has taken place. Sut I think until then, the j
President hasn't really entered into the realm of conjecture. 1 think that -- I
would just leave it right there, until the facts can be ascertained about if
it's all true what we've read, and why scmebody may have done this. But
beyond that, I don't think it's fair to speculate.

Q From the initial facts, is it treason?

WR. FLEISCKER: 1 think Secretary Rumsfeld was asked that question
yesterday, and 1'm not going to go beyond what he said,

Q I'm asking you, the White House.

MR, FLEISCHER: This is a matter for the people who wore involved to ask
the appropriate questions, to gather the appropriate information. It's not a
time for pecple in the government to guess or to speculate. These are important
matters.

Q But he's fighting against the American government, basically --

MA. FLEISCKER: 1% understand.

0800000000118


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00500000000315


Fury ine oe zh eoe Pi Cuddy @nbc.com]

RE Enron Contacte.

thank you. A felle up, if you don’t mind. Was it perceived as a request for
government intervention (i.e, : LTCM bailout)? Ari started the briefing
eaying the press would have to ask the Secretary if that was the perception,
but at the end of the briefing he kept saying, “they (Oneill and Evans)
decided no government intervention was necessary.” Seexs to imply that
they certainly discussed it or considered it. Can u clarify?

Matt Cuddy
CNBC Washington
(202) 776-7405

Michele. asians: treas.gov ([SHTP:Michele,Davis@do,treas.gov)
Thursday, January 10, 2002 1:56 PM

>To: Matthew.Cuddy@nbe.com

>Subject: RE: Enron Contacts

>
>11/8 and 10/28. Lay relayed info, we said "thanks for the info"

Original Message~
From: Cuddy, Matt (NBC, CNBC) [mailto:Matthew.Cuddy@nbc.com)
>Sent: Thursday, January 10, 2002 12:43 PH

>To: ‘Michele. Davis@do,treas.gov"

>Subject: Enron Contacts

>
Michele,

>

>Ari just said we needed to ask Treasury if we wanted to know the date of
Mr.

>O'Neill*s contacts/conversations w/ Mr. Lay of Enron. Can you get us that
>date? Ari said he wasn't sure of the exact date,

>

>Thanks - matt

>

>Matt Cuddy

>CNBC Washington

>{202) 776-7405

>

Becau: -mail can be altered electronically,
the integrity of this communication cannot be guaranteed.

vuvuve

Because e-mail can be altered electronically,
the integrity of this communication cannot be guaranteed.

00800000000094


Sent: Friday, M 11, 2002 2:29 PM
To: ‘Glond Kessler |”
Subject: RE: Enron

in case we don’t connect on the phone, here's what I said:

Following Kern Lay’s call to the Secretary, the president of Enron called Undersecretary
Fisher. Undersecretary Fisher spoke with president of Enron 6 to & times in late October
and early Novexber.

The calls were informational. The Undersecretary’s job is to monitor the effect of any
mator development on the capital markets. In that role, he is in contact with people in
the markets everyday to be aware of their concerns.

As Enron’s negotiations with its bankers for an extension of credit neared a decision
point, the president of Enron asked Undersecretary Fisher to call its banks.
Undersecretary Fisher inferred that he was being asked to encourage the banks to extend
credit. He made no such calls.

~~---Original Message--=
from: Glenn Kessler |mailto:kesslerq@washpost .com]
Sent: Friday, January 11, 2002 11:26 AM

To: Michele. Davis@do,tr gov

Subject: Enron

We are officially requesting an interview with the Secretary today to talk
about Enron and those phone calls. We are doing a follow-up story today and
there is intense interest in asking him some follow-up questions,

Thanks,

Glenn

00800000000087


> entering into

> credit default swaps and hedge your long JGB position is in the low 40
> bps.

>

> We haven't seen these levels since 1998!

>

> Ifthe credit derivs markets was a good predictor of Enron's eventual

> collapse...could the same be said for Japan?
>

> A side note: if you Delieve this and that the government will bailout
> the

> banks, buy banking debt and sell sovereigns!

>

> View this article online at:

> hitp://ibol. ubswarburg.convixweb/shtmi/dfbuzz/CC3474211EFE65130025684 30051
> C399.jsp

> <<ATT92479 txt>> <<Legal Disclaimer>>

Attachment Converted: “c:\RDrive\Attach\ATT92479 txt"

Attachment Converted: “c:\RDrive\Attach\disclaim, txt"

00500000000005


[Not Responsive]

00500000001329


{(b)(5)}

00800000000105


{(b)(5)]

02433

01300000001042


((b)(5)}

00800000000078


Accenture

ACE INA Insurance

Advanced Medical Technology Association

Aerospace Industries Association of America

Agilent Technologies, Inc.

Air-Conditioning & Refrigeration Institute

Akin, Gump, Strauss, Hauer & Feld, LLP

Alcoa, Inc.

Alliance Management Group

Altran Corporation

Aluminum Association

American Chamber of Commerce for Brazil/Rio de Janeiro
American Apparel and Footwear Association

American Association of Port Authorities

American Boiler Manufacturers Association

Amencan Chamber of Commerce for Brazil/Sao Paulo
American Chamber of Commerce of Trinidad & Tobago
American Chamber of Commerce & Industry of Panama
American Chamber of Commerce in Guatemala
American Chamber of Commerce of Bolivia

American Chamber of Commerce of El Salvador
American Chamber of Commerce of Jamaica
American Chamber of Commerce of Nicaragua
American Chamber of Commerce of Peru

American Chamber of Commerce of the Dominican Republic
American Chamber/Mexico

American Chemistry Council

American Cotton Shippers Association

American Council of Life Insurance

American Electronics Association

American Feed Industry Association

American Forest & Paper Association

American Hardware Manufacturers Association
American International Group Inc.

American International Automobile Dealers Association
American Meat Institute

American Paper Machinery Association

American Petroleum Institute

American Road & Transportation Builders

Americans for Tax Reform

AMT-The Assn. for Manufacturing Technology
Andreae, Vick & Associates, LLC

AOL-Time Warmer

APL Limited

Archer Daniels Midland Company

Armstrong World Industries, Inc,

Asphalt Roofing Manufacturers Association
Association of American Chambers of Commerce/AACCLA
Associated Industries of Massachusetts

Associated Oregon Industries, Inc.

Association for Competitive Technology

Association of Int] Automobile Manufacturers

AT&T Corp.

Automotive Trade Policy Council

Avon Products, Inc.

Bank of America Corporation

BASF Corporation

Bechtel Corporation

Biotechnology Industry Organization
BPAmoco Corporation

v

00500000000321


[Not Responsive]

00500000001323


short Geadline Dut if he can’t do it by tomorrow, Thursday would probably
alse work.

Thanks.

Greg Ip

Economics Reporter

The Wall Street Journal
202-862-9238 (office)

teell)
{(b)(6)}
riginal Mes: =

From: Betsy. Holahan@do.treas.gov [nailto:Betsy,Holahan#do.treas,gov)
Sent: Tuesday, December C4, 2001 11:56 AM

To: ip, Gregory

Subject: Interview Request

Greg,

Can you e-mail me more specifics about the derivatives story you are working
on? What types of things you would like to discuss with Peter, etc. Thanks!

Betsy

0800000000130


[Not Responsive]

00500000001328


11/05/99 15:55 FAX 2026221166 LLR @oor

TRANSMISSION OK

TX/RX NO 1994

CONNECTION TEL 88986746
SUBADDRESS

CONNECTION ID

ST. TIME 11/05 15:53
USAGE T o2'14

PGS. SENT ?

RESULT OK

= J

DEPARTMENT OF THE TREASURY

OFFICE OF THE GENERAL COUNSEL
ROOM 1418
4500 PENNSYLVANIA AVENUE, N.W.
WASHINGTON, D.C. 20220

TELEPHONE: 202-622-2317
FAX: 202-622-1188
E-MAIL: tom.megivern@do.treas.gov
DATE: NOVEMBER 5, 1999

NUMBER OF PAGES TO FOLLOW: 6

TO: OLIVER IRELAND MIKE KRIMINGER
FEDERAL RESERVE BOARD FDIC
NANCY YANOFSKY ROBERT COLBY
CFTC SEC

FROM: TOM McGIVERN

SUBJECT: Draft letter in response to proposed Enron amendments to financial
netting contract legislation

COMMENTS: Attached is a draft response to the last known Enron proposal for
amendments to the financial netting contract legislation (also attached). That legislation
is being considered in the Senate and it is uncertain when it will be voted on, so your
quick review of this draft and recommendations for edits and proposed changes would

01000000001454


{Not Responsive]

00500000001324


Davis, Michele

From: Davis, Michele

Sent: Tuesday, January 15, 2002 12:22 PM
To: Adams, Tim

Subject: RE: Congressional Hearings on Enron

Blackherry Wireless Handheld (wew.BlackBerry.net)

00800000000081


Davis, Michele

From: Davis, Michele

Sent: Th ), Jan 10, 2002 1:56 PM
To: ‘Cuddy, (NBC, CNBCy
Subject: RE: Enron Contacts

11/8 and 10/28. Lay relayed info, we said "thanka for the info"

--~--Driginal Message-----

From: Cuddy, Matt (NBC, CNBC) [mailto:Matthew.Cuddy8nbc.com)
Sert: Thursday, January 10, 2002 12:43 eM

To: 'Michele.Davis9do.treas.gov'

Subject: Enron Contacts

Michele,

Ari just said we needed to ask Treasury if we wanted to know the date of Mr.
O'Neill's contacts/conversations w/ Mr. Lay of Enron. Can you get us that
date? Ari said he wasn't sure of the exact date.

Thanks - matt
Matt Cuddy

CNBC Washington
(202) 776-7405

Because e-mail can be altered electronically,
the integrity of this communication cannot be guaranteed.

00800000000092


Further, the Bank's Roe said considerable progress had been made in reforming
accounting standards, modernizing banking legislation, and improving banking
regulation, reports Reuters. The Bank has already paid Ukraine $200 million
from its $300 million financial sector loan, but the government needs to push
through @ new law on banks and banking activity and a law on insuring individual
deposits to receive the last tranche. Restructuring state savings bank
Oshchadbank and further development of bankruptcy procedures for failed banks
were two other major terms of the tranche.

‘The news comes as the Financial Times (p.2) says some critics argue that the US
has been hoist with its own petard, allowing &s readiness to support continued
‘economic aid for Ukraine to undermine the pressure for reform. Former IMF
official Augusto Lopez-Clarcs has criticized Fund programs in Russia and
Ukraine, saying that strategic interests often overwhelmed the commitment to
promote reforms,

The FT (p.2) notes in a separate report that the Chernobyl nuclear power
station, site of the world's worst nuclear accident in 1986, will be shut for

good by the end of the year, according to a resolution by Ukraine's cabinet of
ministers issued yesterday, The resolution comes after the G7 this week offered
an additional $300 milion to finance the construction of a concrete shell to
seal the reactor forever. The news comes just as EBRD finance for another
nuclear reactor looks increasingly imperiled because of anti-nuclear politics in
‘Western Europe and concems about the bankability of the project in the wake of
Ukraine's failure to reform its energy sector.

Also in this edition: US FIRM RENEGOTIATING $800 MLN POWER AGREEMENT IN

NIGERIA. INDONESIA's WAHID CALLS CABINET MEETING ON IMF REFORM PROGRESS.

US FIRM RENEGOTIATING $800 MLN POWER AGREEMENT IN NIGERIA. US energy giant

Enron is renegotiating an $800 million agreement to supply power to the Nigerian

national grid, after the World Bank objected to its original deal, Reuters e ra
reports a top Lagos official said yesterday. The Work Bank objected to the 4p vv
terms of the agreement whereby Enron would supply 90 megawatts of emergency \ y
power from generating units brought into Nigeria's business capital on three “44

floating barges, and would later build a 540 megawatt plant north of the city. oY

The agreement, signed in December in Abuja, was stalled by the objections of the

World Bank and the federal government.

Lagos State Governor Bola Tinubu's spokesman said the deal was now being
renegotiated, “We are renegotiating the question of price and Enron has agreed
to reduce the cost of power supply to Lagos,” said spokesman Segun Ayobolu.
“There are positive signals that the project wil succeed,

In other news, Nigerian President Olusegun Obasanjo said yesterday his
government was considering legislation to back up its campaign against the
spread of AIDS, inctuding a bill outlawing discrimination against people
infected with the HIV virus, AFP reports. Obasanjo told UNAIDS chief Peter
Piot, and representatives of the World Bank, the WHO, and UNICEF that the
government would welcome advice from international organizations in drafting
anv-AIDS legislation.

The news comes as the Financial Times runs a survey on Nigeria.

INDONESIA’s WAHID CALLS CABINET MEETING ON IMF REFORM PROGRESS. Indonesian
President Abdurrahman Wahid has ordered a cabinet meeting on Saturday to discuss

the progress of economic reforms promised to the IMF, AFP reports Foreign

Minister Alwi Shinab said today. ‘Shihab was quoted by the Antara (Indonesia)

news agency as saying the president would chair the meeting himself. “We are

confident that in one to two weeks, there will be progress achieved,” Shinab

said, referring to several economic reform programs which have fallen behing

00500000000873


Davis, Michele

From: Davis, Michele
Sent: Thursday, January 10, 2002 12:32 PM
To: Lawrence _A. Fleischen@who.eop.gov
Subject: ‘enon and O'Neill

{(b)(5)]

00800000000150


Republicans om the economic stimulus package, it's already December Sth. Does
the ?resident feel he wiil get en agreement?

MA. FLEISCHER: He just doesn't knox, Wo one can say what Congress will
do. I's up to Congress, finally. The President will continue to be helpful,
but obviously, the Senate wes not even able to pass a bill. Unlike the House of
Representatives, which was able to pass a stimulus bill, the Senate could not.
Now the administration is going -- taking the extra step of working with the
Senate in a way that really is unprecedented, it's not comaon that one branch of
the Congress passes a bill -- or one House in the Congress passes a bill, the
other doesn't. But the President thinks it's so important to help the economy
that 4 new == an entirely new procedure has been put in place to help the Senate
to complete its work.

Q Let me ask you about fast track authority, which, you said, is an
uphill fight, hasn't been approved for a President since 1994. Dick Gephardt is
the leader of the House, a Democrat. He opposed it then, he hasn't stopped
opposing it. What makes the President believe that this time he'll get the
votes? Ke needs at least 30 Denccratic votes.

MR, FLEISCHER: Well, that's why I make no predictions about how votes will
go. This has been in modern times a very difficult issue. But because the
President believes in it so strongly, because of the points I mace earlier about
its ability to create jobs on the home front and give the President the
authority he needs when he meets with heads of state and others to negotiate
trade agreements, the President is hopeful that the power of reason and the
principle behind free trade will convince enough members of Cong: to put it
over the top. We'll see.

Q Ari? .
MR. FLEISCHER: Lester?

Q All nine Republican members of the Senate Judiciary Committee have
charged that Chairman Patrick Leahy has used what they termed, quote,
"misleading statistics,” to try to defend what they charge is a disgraceful
effort to block President Bush's judicial nominees, And my question: Does the
President agree with these nine fellow Republicans, and what does he think of
Leahy's objections to military tribunals?

MR. FLEISCHER: You're asking two questions, one on judicial nominees and
the other on tribunals.

Q Make it one. {Laughter.) Ooces he agree with the other Republicans?

MR. FLEISCHER: I'm not sure how to make that one. Well, military
tribunals, I think you've heard that directly from the President himself, and as
I said earlier, the President is respectful of those who represent the minority
point of view, but that is their right. The President clearly disagrees.

Q He diaaqrees with Leahy, doesn't he, and he agrees with the nine
Repudlicans?

MR. FLEISCHER: TI would ask you for further amplification. Mischievous
two-part. one question.

Q U.S. Attorney for the southern district of New York, Mary Jo White,
was assigned the criminal investigation of last January's Clinton pardons. But
she is now retiring, end there has not been even a report after 11 months. And
my question: Can you assure us, Ari, that the President is neither considering
a Jerzy Ford-type pardon of the presidential predecessor, nor planning that this
criminal investigation, so long out of the news, will just expire and kind of
let bygones be bygones?

MR, FLEISCHER: Lester, I have no information for you on any presidential
pardens. And anything dealing with a matter that‘s under investigation by the
Department of Justice needs to be --

“

0800000000122


Davis, Michele

From: Davis, Michele

Sent: Monday, December 03, 2001 5:58 PM
To: Gross, Jared; Holahan, Betsy
Subject: RE: Good Night

I dont think we should do the interview if we aren't going to have anything to say on the subjects

“Original Message-—-

From: Geos, Jared

Sent: Monday, December 03, 2001 5:55 PM
To: Holahen, Betsy; Davis, Michele

Subject: RE: Good Night
Derivatives regulation is a bit vague, The usual suspects are retail swaps and netting.

For nearly a year we have been working on a study of the retail swaps market, which was mandated by Congress with
the passage of the Commodity Futures lodemization Act of 2000 [(b)(5)] om

There is the Fi iat Contract Ni provision of the bani code, whicc is designed specifica! i
with derwative contracts in the case ofa large Tinencial sector Gofautt Enron?) [OUTSIDE SCOPE One

= Ongnal Message—-—

Betsy

j, Decemiver 03, 2001 5:49 PM
Michele

Jared
Subject: RE: Good Night

not sure...Jared, so you know?

nt]
ity

From: Davis, Michele
Sent: Monday, December 03, 2001 5:27 PM

RE: Good Night
is there any regulation on derivatives being written here at Treasury right now?
Orginal Message——
From: Holahan, Betsy
Sent: Monday, December 03, 2001 5:10 PM .
Tot Lee, Sharon; Fratto, Tony; Bradshaw, Tara; Scolinos, Tasia; Strickler, Marie; Alvarado, Carmen
Cc: Davis, Michele; Nichols, Robert
‘Subject: RE: Good Night

GN
[OUTSIDE SCOPE]

To: Molahan, Betsy
Subject:

Grep ip of WS. wants interview with Peter on deriviatives regulation by late Wed this week... any
thoughts’

Original Message——
From: Lee, Sharon
Sent: Monday, December 03, 2001 5:06 PM
Tor Fratto, Tori; Bradshaw, Tara; Scolines, Tesie; Molahan, Betsy; Strickler, Mane; Alvarado, Carmen
Ca Lee, Sharon; Davis, Michele; Nichots, Robert
Subject: Good Night
[(b)(5)} However, please let me know when

00800000000135


Sent Tuesday, November 27, 2001 4:13 PM
To: Fisher Peter , :

Ce: Adams, Tim

Subject: RE:

((b)(5)]

-----Original Message-----
From: Fisher, Peter

Sent: Tuesday, November 27, 2001 3:55 PM
T Oavis, Michele

Subject: FW:

((b)(5)]

-----Original Message-----

From: Schlesinger, Jacob [mailto:Jacob.Schlesinger$wsj.com]
Sent; Tuesday, November 27, 2001 1:35 PM

T ‘Peter. Fisher@do.treas.gov’

Subject:

Peter:

I hope you had a good Thanskgiving. If you've got three minutes, I'd love to
talk on whatever basis is appropriate about Enron. Our folks are very eager
to know what the government sees/thinks, and all our sources point us to you
as the point-person on this.

Also, I'e love to try again to set up that lunch. But in the meantime, this
is more pressing.

T*ll try to call in a bit, but my number is below if you want to call.

Jake

inger
Offic 202-862-6658
Cell: 202-669-1349

00800000000140


Mom C~The Mut dre. IZ, aeei

{(b)(5) and outside scope}

01200000001160


[(b)(5) and outside scope]

01200000001164


DEPARTMENT OF THE TREASURY
WASHINGTON, D.C, 20220

FOR LIMITED DISTRIBUTION AND NOT FOR DISTRIBUTION
OUTSIDE THE LEGAL DIVISION

January 4, 2002
MEMORANDUM FOR DAVID D, AUFHAUSER
GENERAL COUNSEL

GEORGE B. WOLFE
DEPUTY GENERAL COUNSEL,

FROM: ROBERTA K. McINERNEY
ASSISTANT GENERAL COUNSEL
(BANKING AND FINANCE)
SUBJECT; Weekly Report for the Week of December 31, 2001
[(b)(5) and outside of scope]

0200000000144


((b)(5)]

01200000000887


tne President is very pleased by that. He's pleased by the multiethnic nature
ot tne agreement. He's pleased by the role that women will piay in the future
ernment cf Afghanistan. He wants te express his congratulations and praise
to Secretary Generali Annan, a3 well as to Ambassador Brahimi, for their hard
work in delivering this accord,

But much more work remains ahead, This is an important development in the
future of Afghanistan, but it's only, in many ways, the beginning. A let of
hard work remains tor Afghanistan now to have a stable government that
represents and respects the people of Afghanistan. [It still will be difficulr
because Afqhanistan is still a nation that is the middle of a war,

@ Ari, on the Middle East, since last weekend's suicide bombings, has
Mr, Arafat done anything to impress the President that, in fact, he is making a
commitment to peace and to rcoting out terrorists?

MR, FLEISCHER: 1 think if you listen to what the President said yesterday
== now, it’s about 16 hours after what he said -- it’s too soon to say. The
President will keep a very close eye on the events in the Middle East and on the
actions that Chairman Arafat takes, to make certain that Chairman Arafat is
dedicated to the ca of peace and to making sure that he takes action against
the terrorists who are challenging not only the security of Israel, but the
authority of Chairman Arafat.

+ Q But what's the timetable here? Because, I mean, day after day, the
President keeps calling on him to do something. I'm wondering when the
table, when the deadline is for Yasser Arafat.

MR, FLEISCHER: The President has not established it in such # manner. I
think thet, a2 always, the President wants to allow events to develop over time
in a way that he hopes will be fruitful to convincing the parties in the Middle
East that their best interest is to work together, Chairman Arafat and Israel,
to forge meaningful peace. And one of the best tests of that will be to see
whether Chairman Arafat will take meaningful, long-term, enduring action against
the terrorists who are operating out of Palestinian territory.

Q But for mow the peace process is dead, is it not, in the President's
mind?

WR, FLEISCHER: I think you heard the President address that yesterday,
when he said that he has a dream that peace will be achieved in the Middle East.
And as I indicated earlier, the Middle East has historically been a cycle
between violence and hope. And even in the midst of the viclence, the Presiden:
hae net given up hope anc he will remain committed to achieving peace.

Q What has President Bush been told about the death of the two Americans
in Afghanistan under friendly fire this morning and how it happened?

MR. FLEISCHER: Upon his arrival into the White House, shortly before 7:00
a.m, this morning, the President was informed about the deaths of the Americans
and the injuries in Afghanistan that affected people of Afghanistan, as well.
And the President cffers his condolences te the families and the loved ones of
those who have been killed, and he regrets the loss of life very much and also
wishes that the injurec will have a full and speedy recovery.

@ And what caused it? Does he know anything about what went wrong?

WR, FLEISCHER: The Department of Defense will have more information about
any of the specifics, and I'll refer you over to DOD on it.

2 What de you think your chances are in the trade vote tomorrow?

MR. FLEISCHER: Well, I think it's risky business, always, to predict what
a congressional vote wil, be. It has historically been an uphill fight, at
least cover the last some 10 years, for the President to be given this authority.
But the President thinks it is crucial that he be given the authority to enter
into trade agreements around the world, one, to help protect the economy

?

0800000000115


08 Ni 0060906 p
Facoumiti?) tihng le 1 i 11:04. No, 41260060906 !

THE WORLD BANK
OFFICE OFTHE us. pond CUTIVE p SRECTOR
ISIS H Street, Ny V Room § MC-13-52
Wathingres, DC 20433
DATE: NUMBER OF PACES NCLUDING COVER SHEET.
TO:
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hi ug i. whe LGU ¢

Fax NUMBER:

FROM: Robin Rirechog Executive Director" 5 Assistany
TEL: (202) 459. 80:
FAX; (202) 477-2967

MESSaGr-

AR a 7 ae ae Vila te ia

0080000000039


[Not Responsive]

00500000001327


Davis, Michele

From: Davis, Michele
Sent: Thursday, December 06, 2001 6:00 PM
To: Holahan,
Subject: RE: Dow Jones request
{(b)(5)]
~——Drignal Message-——~
From: Molahan, Betsy
Sent: Thursday, December 06, 2001 5:13 PM
To: Davis, Michele

Subject: Dow Jones request

ieee cite wat Se i Saat tds Gs dans actioned) shcid coiled Gy a C8 TO Beare
1993 when Shella was a member. The decision was on swaps regulation

regulation, She@a was the only one opposed to se grompton ard might eestor w Ere, Reba
wants to learn more about Shea's thoughts at the time. Any thoughts’

00800000000110


Read Full Story

<http://wwew. institutionalinvestoronline.com/iiochannel/corporatefinance/20011213000653.htm>
Source: BondWeek <htp://www.dondweek com>

sti ali U.S. PENSIONS
ening To Cut Lagging Mecagert
<http://www.institutionalinvestoronline.com/iiochannel/uspensions/20011212000800.htm>
The $33 billion Maryland State Retirement System could terminate at its board meeting next month a
number of its managers for underperformance, including Zurich Scudder Investments from a $469 million
global small-cap equity fund and Standish Mellon Asset Management from a $575 million core fixed-
income account.
Read Full Story
<http://www .institutionalinvestoronline.com/iiochannel/uspensions/20011212000800.htm>
Source: Money Management Letter <http://www.moneymanagementietter.com/>

BANKING

ingest Deals Linked To Enron Sub Shelved
<http://www.institutionalinvestorontine.com/liochannel/banking/20011211000728.ntm>

The syndication of at least two power project credits has been put on hold because the National Energy
Production Co, (NEPCO), the contractor building the plants, is an Enron subsidiary

Read Full Story <http://www.institutionalinvestoronline.com/iiochannel/banking/20011211000728.ntm>
Source: Loan Market Week <http://www.loanmarketweek.com/>

ages/blank.gif> INSTITUTIONAL

TRADING

NYSE Expands Self-Policing Efforts
<http://www.institutionalinvestoronline.com/iiochannel/institutionaltrading/20011210000489.htm>
Over the past month, the New York Stock Exchange has expanded its floor surveillance, placing more
supervisors on the floor in order to monitor trading and respond to day-to-day compliance inquiries.
Read Full Story

<http://www.institutionalinvestoronline.com/iiochannel/institutionaltrading/200 11210000489, htm>
Source: Wall Street Letter <http://www.walistreetietter.comy/>

Japanese Reinsurer Plans First CDO Buying Spree

<http://www. institutionalinvestoronline.com/iiochannel/insurance/20011211000870.htm>

The Toa Reinsurance Co., one of Japan's largest reinsurers with over JPY338 billion (USD2.7 billion) in
assets, plans to purchase its first synthetic collateralized debt obligation.

Read Full Story <http://www,institutionalinvestoronline.com/tiochannel/insurance/20011211000870,.htm>
Source: Derivatives Week <http://www.derivativesweek com/>

2002 AERT <http://www.institutionalinvestoronline.com/iionline/emails/images/iio_html_email_
a gif>

iveww.institutionalin'
a Investor will announce the results of the All-Europe Research Team in February to coincide
with Its first Annual Awards Dinner. This will be the first instance where analysts, investors and corporates
will have access to this benchmark survey's extensive results.

This exclusive black tie dinner, lead sponsored by Reuters with Accenture and Multex.com acting as senior
Sponsors, will take place on Wednesday, February 6 at the Dorchester Hotel, London. The awards will be
presented by a well-known personality together with selected leading CEOs, CIOs and a guest of honour.

7

00500000000311


Engelhard, Joe

From: info@institutionalinvestoroniine.com

Sent: Thursday, December 27, 2001 3:20 PM
To: \Magazine.COM Newsletter

Subject: Institutional Investor Online - News Blast

HO <http://www.institutionalinvestoronline.comiiionline/emails/images/iio_html_email_header.gif>
Home <http:/Awww.institutionalinvestoronline.com/index.htm> Research and Rankings
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Happy holidays and welcome tothe weekly Institutional Investor Online news blast!

This weekly e-mail provides direct links to the most recent top stories available for FREE on Institutional
Investor Online <http://www.institutionalinvestoronline,com/> and selected articles from all 40
Institutional Investor publications,

Top Stories
pi alta institutionalinvestoroniine. span ir tlaarte er htmi_email_topstor_head.gif>

us eee

By The Book <http://www.institutionalinvestoron|ine,com/liochannel/uspensions/20011221000997.htm>
As New York faces its worst fiscal crisis since it nearly went bankrupt in 1975, new Comptroller Bill
Thompson will try to keep the city on the straight and narrow. It won't be easy.

Read Full Story

<http://www.institutionalinvestoroniine.com/liochannel/uspensions/20011221000997.htm>
Source: Institutional Investor Magazine <http://www-liplatinum.com/>

gif> REAL ESTATE
Deutsche Bank Partnership Purchases High- -End Barcelona Hotel
<http://www.institutionalinvestorontine.comy/tliochannel/realestate/20011226000800.htm>

A group of investors led by Deutsche Bank AG's Rea! Estate Private Equity and Patron Capital Partners has
sewn up the largest hotel acquisition in Europe this year.

Read Full Story
<http://www.institutionalinvestoronline.com/ilochannel/realestate/20011226000800.htm>

Source: Real Estate Finance & Investment <http://www. realestate com/>

a lin lionline/emails/ima nk.gif= PORTFOLIO
STRATEGY
Buy-siders See Opportunity In Energy Selloff
<http://www.institutionalinvestoronline.com/iiochannel/portfoliostrategy/20011226000892.htm>
Buy-side analysts and portfolio managers say there are a number of bargains in the energy and utilities
sectors, a5 panic sellers seek to avoid holding the next Enron, while others are forced to sell bonds as
soon as they drop below investment-grade.
Read Full Story
<http://www.institutionalinvestorontine.com/iiochannel/portfoliostrategy/20011226000892.htm>
Source: Bone Week <http://wew,bondweek.com/>

1

00500000000305


The President this morning hed breakfast with @ bipartisan congressional
leadership to discuss the remaining issues that Congress has on its plate for
the rest of the year. He urged the Congress to continue to work together so
that the economic stimulus package could be approved by the Congress, be siqned
this year, he hopes, so that we can help America’s unemployment workers.

Following she breakfast, the President met with the CIA for his
intelligence briefing; met with the FBI for an update on the domestic front.
And then he convened a meeting of the National Security Council.

Throughout the afternoon, the President will meet with members of Congress
on trade promotion authority. The House of Representatives is scheduled to take
a very important vote tomorrow on whether or not President Bush will have the
authority to enter inte trade agreements around the world. The Fresident urges
mombers of Congre to vote for that. It will be a very interesting vote, to
see whether or not Congress or the House will go along.

The President also early this afternoon will have an event in the Oval
Office, where he will announce a new Chairman of the Republican Naticnal
Committee. And the President will meet with the Prime Minister of Norway this
afternocor to discuss cocperaticn on the war on terrorisn,

One update. As a result of the action the President took yesterday in the
fight against international terrorism on the financial front, I want to report
to you this morning that over $5 million has been blocked in assets belonging to
the Holy Land Foundation, And as a result of the freezes and blocking orders
the President has implemented on the financial front worldwide against the war
on terrorism, e than $61 million has been either frozen or blocked around the
world. .

Q Aci, what makes the President -- I'm taking note of his wide-swinging
threats in speeches recently. What makes him think that he has the right to go
into a sovereign country and bomb the people?

MR. FLEISCHER: His threats?

Q Any country. Yes, he’s ==

MR. FLEISCHER: Would you like to be more specific?

Q foes he think he can go beyond Afghanistan or anywhere else?

MR. FLEISCHER: The President has made iz clear to the American people that
the United St , in the wake of an attack on our country, will defend itself.
And as a result of defending ourselves, you can see what is happening in
Afghanistan The President has said that this is a war against terrorism
because terrorists continue to pose a threat to the United States and to others
around the world, and that he is involved in phase one of defending this country
against terrorists, and he will continue to do so.

ct) What gives him the authority te go inte other countries and bomb them,
which is what he is threatening to do?

MR. FLEISCHER: The right es the Commander-in-Chief to protect and defend
the American peeple.

@ Ari, what's the White House reacticn to the agreement signed in Bonn
by the parties who have been negotiating a future for the Afghan government?
Does it meet the standards that the White House has set cut -- broad-based,
ethnically diverse, women involved?

UR, FLEISCHER: The President ia very pleased with the agreement that's
been reached on Bonn concerning the future of the Afghanistan government. He
believes it ia a positive agreement that bodes well for the people of
Afghanistan, This vote will allow the people of Afghanistan to take -- this
development will allow the poople of Afghanistan to take their country back, and

0800000000114


[OUTSIDE SCOPE , (b)(5)]

e Enron has three defined benefit plans with 26,000 participants.

Attachments

01200000001191


[(b}(5)}

———

4

01200000001194


{(b)(5)]

02432

01300000001041


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15

00500000000319


VR. FLEISCHER: Let me take another one, then I'l come right back to that.

2 Ari, does the President belleve Osame bin Laden has been making a
dirty bomb? And, if so, does he think it has been smuggled into the United
States? Defense Secretary Rumsfeld is not sure.

MR. FLEISCHER: As you know, the President, himself, several weeks ago
raised this very issue. And he said that Osama bin Laden has said it's a
religious duty of his adherence to develop such weaponry and to use it if they
can. So it is something that the Fresident is concerned about and takes
seriously and every precaution is being in place. And that's one of the reasons
it's so important te fight and to win this war against the terrorists. So it's
a@ source of concern.

On your question about the Hudson River, EPA Administrator Whitman and the
EPA are moving forward om this cleanup of the Hudson River. The Administrator
hea made it clear the EPA will continue to have an open process that involves
all the interested parties, including the people in the affected communities.
So that's really the only information I have on it. You may want to talk to
EPA, Sut they are moving forward.
-19 <-

MORE e116-12/05
- 19 -

Q She has rot said yet, she is waiting to hear from those who are
protesting?

MR. FLEISCHER: She‘s listening to the various parties as she moves
forward, and you may want to get more specific information from her.

‘Thank you,
END 12:36 P.M. EST

0800000000124


June 8, 2001

WEEKLY ISSUES (ITI)

Dabhol Power Dispute in India

{(0)(5))

Sudan Peace Act and Disclosure Requirements

{(b)(5) and Outside of Scope]

01000000001145


((b)(5)}

00500000002133


the committee with the extraneous spending that the President has said goes
neyond how such is necessary to immediately take care of the needs we have on
tae homeland. And so let*s see what happens on the Senate floor.

it's unclear yet whether or not this proposal will actually make it through
the Senate floor. But the President has sent Congress as direct a message as
you can about the need to pass a defense bill that can get quickly signed into
law so our troops can have the resources they need.

Q Ari, in front of the Senate Judiciary Committee yesterday, Senator
Eatch said that he saw an element of partisanship in the oversight hearings that
are taking place o' the way the Justice Department is carrying out its
investigation. Dor @ White House share that view that partisanship is
creeping into the Congress's oversight role on the investigation?

MR. FLEISCHER: Well, the President understands very clearly and welcomes
Congress's legitimate oversight of all the activities that the Executive Branch
engages in. That is how our Constitution is built, and the President is keenly
respectful of it. And I den't think it should surprise anybody that the Senate
will exercise that review, But I think the President has alse noted that there
have been some positive statements by many Democrats about the actions that the
President has taken on the home front, military tribunals, et cetera, to fight
and to win the war on terrorism.

Now, clearly, the American people are overwhelmingly with the President on
this. But there very well may be people who represent a small minority and they
have that right to do so.

Q Just to follow up. Do you think that there are people that are trying
to score political points against the Attorney General or against the President
in their criticism of his handling of the situation?

MR. FLEISCHER: You know, there very well may be. But that doesn't bother
the President. The President understands that -- he came to Washington from a
very different backcround than many people who have been here for 4 while. The
President came Crom a state government where you'll see -- not only in Austin,
Texas, but througheut many of the states -- less partisanship, less strife. And
that's the spirit that the President has been trying to bring to the Congress.

T think many pecple accept that new spirit that has come to Washington. There
nay be some who won't.

e Going back to Holy Land Funding, there many other groups whe are
raising funds from this country and sending overs including many groups in
Kashmir and funding terrorists’ activities. Do you think the President is going
te go now after all those groups who are raising funds from this land?

MR. FLEISCHER: Well, yesterday's announcenent was one announcenent in a
series of announcements the President has been saking on the financial frent in
the war on terrorism, And I really urge you to look at this as a front in a
war. And given that fact -- and that's the President's approach to it and
that's the message that he has given the Secretary of Treasury and the
government investigators and the law enforcement community -~- you need to look
at this as an ongoing series of events designed to protect this country by
drying up the money that's available to those who would do us harm or engage in
terrorism around the world. So, as the President has always said, there very
well may be more actions to be taken.

Q Just to follcw, because the Prime Minister of India when he was here
at the White House and met with the President, and also, the Foreign Minister of
India, they all said that there are groups here who are funding terrorist groups
in Kashmir. And they erged the President and this administration to take action
on this --

MR. FLEISCHER: And I think the President is putting groups cn notice that
no one is going to be safe, ne one is going to be immune; if they practice
terrorism, the war will be brought to them on a number of fronts.

Q Ari, despite philosophical differences between Democrats and
B

00800000000121


{(b)(5)]

CC Secretary O'Neill, Peter Fisher, Dave Aufhauser, Mark Weinberger, John Duncan

00800000000079


Institutional Investor’s online publications!

OTHER QUICK LINKS:

Institutional Investor Online home page <http://www. institutionalinvestoronline.com/>
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Engelhard, Joe

From: info@institutionalinvestoronline.com
Sent: Wednesday, November 21, 2001 2:25 PM
To: lIMagazine.COM Newsletter

Subject: Institutional Investor Online - News Blast

‘<hitp:/weww. institutionalinvestoronline.com/>

Welcome to the |nstitutional Investor Online <httpy/www.institutionalinvestoroniine.com/> news blast!

This weekly e-mail provides direct links to all of the most recent top stories selected from all 48 Institutional Investor
publications, available for FREE on Institutional Investor Online. <hitp:/www.institutionalinvestoroniine.com/>

Institutional Investor will announce the results of the All-Europe Research Team in February to coincide with its first
Annual Awards Dinner, This will be the first instance where analysts, investors and corporates will have access to this
benchmark survey's extensive results.

This exclusive black tie dinner, sponsored by Reuters, will take place on Wednesday, February 6 at the Dorchester Hotel,
London.

For further information on this unique event, or to book a table at the dinner, please click here

shitos/woww jiptatinum com/aert>

00500000000313


Davis, Michele

From:
Sent:
To:

Ce:
Subject:

Bair, Sheila

Wednesday, January 09, 2002 12:18 PM

O'Neill, Paul, Fisher, Peter; Weinberger, Merk; Aufhauser, David; Duncan, John; Smith, Chris
Adams, Tim, Davis, Michele; Sweetnam, Bill Jr

Enron Paper

©)

bree ge
Attached please find a revised Enron paper with the following changes
[(b)(5)]
Dr icbesinppel iif hep at aap ably fale nel Brnnis. works tke to do so no later than 3:00 this
afternoon, so if you have any further reciate receiving them before then.
Thanks
Sheila

00800000000103


[Outside of Scope]

00500000000002


{(b)(5)]

00800000000080


Davis, Michele

From: Davis, Michele

Sent: Friday, January 11, 2002 2:26 PM
To: Scolinos, Tasia
Subject: RE: Betsy said you are handling Enron calls!
| did!
—-Drigina Message~

From: Scolinos, Tasks

Sent: Friday, January 11, 2002 2:09 PM

To: Davis, Michele

Subject: Betsy said you are handling Enron calls!
Please call Jim Popkin at NBC at 885-4256 regarding Enron. Thanks!

00800000000086


00200000000150


un

States and cthers will actively engage.

Q When he first began the war on terrorism, they usec terrorist groups
with a globe! reach to apply specifically to al Qaeda. And as part of the
rationale for going after these groups, militarily if necessary, should we apply
the same criteria to what is now happening in the Middle Zast? Would the U.5.,
for instence, consider militery action against Middle Eastern terrorist groups?

MR. FLETSCHER: Agai
fecused on phase one on
leave it.

as you know, the President has repeatedly said he's
@ war against terrorism, and that's where I think I'll

qQ Ari, two questions on Afghanistan. As part of the agreement today,
there was discussion of having some kind of a U.N. force in Kabul, at least for
a while. How long -- T know the President has expressed reluctance to have
American forces there for long. What kind of contribution is he willing to
make, and with what range of time parameters? And, secondly, in order to reach
this agreement, were there any American commitments made on aid?

MR. FLEISCHER: The principal contribution the United States is making is
creating an environment in which peace can take place in Afghanistan. And if
there are to be any international security forces put into Afghanistan, it will
only be as a result of winning 4 war against al Qaeda and the destruction of the
Taliban. So I think events are still somewhat fluid involving what type of
steps will come next with any international security force. You know, the
President is unchangec in what he has always said, that the American military
should be used for the purpose of fighting and winning wars, and the President
has not changed his opinion on that.

Q On the aid issue?
MR. FLEISCHER: On the which one?

Q On the sid issue, were there any further commitments of American aid
tor Afghanistan made as part of this agreement?

MR, FLEISCHER: Nothing that I'm aware of, David.

Q Democrats are still, as far as I know, trying to add $15 billion in
spending cn homeland security to the defense bill. As I understand it,
Republicans, in order to stop that, may end up involving stalling the defense
appropriations bill. Does the President think it's worth it to end up doing
that in order to keep this money, extra money, off of the bill?

MR. FLEISCHER: In the meeting with the menbers of Congress this morning,
the Fresident made it as plain day that if the Ss @ were to send the
President a bill that complicates our nation's defe: needs, he will veto it.
And By “complicate,” he means if they try to attach extra spending beyond what
has already been promised and agreed to by the Congress to a Defense Department
appropriation bill at a time of war, the President will immediately veto it,
nend it back 30 Congress can back to work on something that can indeed be done.

There Ls also a letter that is now circulating up on Capitol Hill, and
Senator Lott's office is distributing, that has a sufficient number of senators
to sustain any presidential veto. So why on Earth would the Senate go through
this exercise when it clearly won't go anywhere, other than to delay America's
national defense needs.

America is at war and the war should not be fought on last year's budget.
And that's why the President feels so strongly that Congress should send him a
defense appropriation bill that has the funding incr for the Pentagon to
fight a war end thet that bill should not get bogged down by other issues beyond
what has already bean agreed to by the Congress.

Q Do you want Republicans te vote against that bill?

MR, FLEISCHER: Well, it nas yet to be attached on the floor. It passed in
Rn

00800000000120


thera pen 1, 2002 12:32 PM
ay, 1, Y
‘Glent Kessler.

RE: more enron

I'm happy to talk te you about either of them

riginal Measage-----

Glenn Kessler [mailto:kesslerg@washpost .com]
Friday, January 11, 2002 12:33 2M
nele.Davis@do.treas.gqov

more enron

In light of your announcement, I guess we also would like to talk to Peter

Fisher.

00800000000084


long-tert: out, two, to help other nations arcund the world so they have
opportunities to grow and prosper.

2 With the peeple he's meeting today, are they leaners or how do you see
then?

MR. FLEISCHER: They fall into a variety of categori: Clearly, he won't
meet with people whose minds are already made up and ther no use talking to
them. Se the President is going to meet with pecple where he thinks it can make
a difference.

I can report to you that the President has held, prior to today and not
including yesterday's flight, six meetings with members of Congress, exclusively
on the tepic of trade promot authority. He's met with 41 members of the
House, § members cf the Senate, 19 Republicans and 30 Democrats.

Q Are those large meetings, or one-on-one, or --

MR. FLEISCHER: A variety of forums.

Q Is this over recent, Ari, or <=

Q Kas he been on the phone with them also?

MR, FLEISCHER: The President may be making some phone calls,

Q Spread over the last six months?

MR. ELEISCHER: Yes, if you recall, in anticipation of this, because the
President is such a dedicated believer in the importance of free trade, the
President over the summer started having meetings with members of Congress to
talk about trace promotion authority. ie hac a few additional ones, and now, of
course, om the eve of a major vote, the efforts are accelerated.

Q This is over that whole period?

MR. FLEISCHER: That's correct.

Has the President talked to Sharon or Admiral Zinni? What has been
the President's activity in terms of the Mideast?

MR. FLEISCHER: We: as you know, the President met directly with Prime
Minister Sharon here et the White House on Sunday, No, to my knowledge, the
Fresident has not had any additional conversations.

Q Mas the President had a chance to look at this new proposal by
Chairman Thomas that provides additional assistance to workers who lose their
tobs?

MR. FLEISCHER: TIA? The President is aware of the proposal by Chairman
Thomas the President ia hopeful that 2 result of a
conversations that are taking place, that members of Cong:
grant the President the authority to enter into trade agreements around the

world.

Q Does he support the Thomas proposal?

MR, FLEISCHER: Well, the President does believe in TIA, the program of
trade adjustment assistance. He thinks it is a very helpful way te help people
who in individual sectors might lose their jobs as a result of trade agreements.
Having said that, the President, as you know, believes that trade agreements
create a net increase in jobs. Sut the President supports the program. The
President hopes that in negotiations and discussions they will be successful.

Q Chairnan Arafat is saying that he can't get to General Zinni to return
any calls to him. Are you aware of that? Has that been a directive to General
Zinni?

0800000000116


the incegrity ef this commanication cannot be guaranteed.

00800000000097


TABD India: Selected Economic Indicators 1/
Prepared By: Geotha Rao, US Treasury

[(0)(5) and Outside of Scope]

00500000002135


[Not Responsive]

00500000001331


[Outside of Scope]

00500000000167


[Not Responsive]

00500000001322


{Not Responsive]

00500000001326


Davis, Michele

From: Davis, Michele
Sent: fea Jenuaty 11, 2002 12:19 PM
To: an, Betsy
Subject: Re Enron neato.
{(0)(5)]
——Ongne Message —
From: Holahan, Betsy
Sent Friday, Jarnsary £1, 2002 12:07 PM
To: Davis, Michele
Importance: High

Jonathan Fuerbringer, NYTimes, 212-556-3550, wants to talk to Peter off-the-record
Natalie Henry, Greenwire, 202-737-4340, wants to confirm Lay/PON conversations
Tarnara Lipper, Newsweek, 202-626-206, wants to talk to Peter

{(b)(5)]

00800000000083


Bair, Sheila

From: Bair, Sheila

Sent: Thursday, January 10, 2002 6:01 PM
To: Clarida, Richard

Subject: Enron

A

My memo to Josh, as promised

01200000000884


{((b)(5)]

01000000001144


Agenda coming as welll
AG

> ——-Original Message-——

> From: Bauer, Kristen F

> Sent: Tuesday, December 11, 2001 7:01 AM

> Bs Otto. Stanley A(Tokvo)

> Ce Greenberg, Allen S(Tokyo),
>" (bX) Pera, an Tony
> Subject ‘ali tne papers

>

> Stan and John, here's where we stand at the end of Monday.

>

» Attached are all the papers--the US positions and Responses to Japanese
> concerns have changed from thase in your briefing books. (We will need to
> update LAny's and David's books as well.)

>

> | would suggest adding a del meeting into the schedule for early Thursday.
>

>

> FYI, other things remainung to be done:
>

> For Larry

> —Larry's comments/changes/etc on his opening statement

> ~Larry and David to decide on what to do with David's presentation in
> light of Treasury's comments

> =Larry to decide who is doing what of the US positions and Responses.
> —Let Larry know that consolidated taxation came up briefly in the

> Financial Dialogue (just a question about its status) Land taxes did
> not

> ~Larty ok on the US position paper (eg see if he thinks it reflects his
> agreement with Wendy)

>

> For us:

> ~Get soft questions for the US companies (based on your conversations
> with them)

> Add Enron points to briefing book which Bob Strahoda should be sending
> you Stan,

> ~Get a final participants list from the GOJ.

>

> See you in Japan! Knsten
>

> <<participants1210.doc>> <<Points on US Concernst.doc>> <<Responses to
> GOJ Specific Concerns doc>> <<Japan’s Investment Climate.ppt>>

> <<openingstmt doc>> <<Larry’s FDI.ppt>> <<US Participants.doc>>

>

> Knsten F. Bauer

> Country Officer, Japan Desk
> Telephone: 202-647-3154

> Fax! 202-6474402

>

> This e-mail s unclassified based on the definitions provided in EO.
> 12958

00500000000006


[(b)(5) and Outside of Scope]

NAFTA Cases — Mondey Brief

{(b)(5) and Outside of Scope]

01000000001146


-ll-

[Not Responsive]

00500000001330


[(b)(5) and outside of scope}

0200000000147


PEEC Advisory Grnmi tee Maébon
Nites of EB. deHawe 12-17-0/

2 hock. FED

{(b)(5)]

1200000001192


[Outside of scope]

00800000000075


For further information on this unique event, or to book a table at the dinner, please click here or go to:
<http://www.liplatinum.com/aert>

___. <http://vewew. institutionalinvestoronline.comiiionline/emails/images/iio_2001_bottom.gif>

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<http://www.institutionalinvestoronline. giles ah seb sr oe nim email_alsonws_head.gif>
<http://www. insti FE Ks Pressure in Washington
Over Advice For Retirement Plans
<http://www.institutionalinvestoronline.com/iiochannel/mutualfunds/20011210000452.htm> (Source:
Fund Action)
Bankers Balk At A Potential 20-Year Benchmark
<http://www.institutionalinvestoronline.com/liochannel/corporatefinance/20011211000712,htm>
(Source: Corporate Financing Week)
Russell Readies Hedge Fund-Of-Funds
<http://www.institutionalinvestoronline.com/liochannel/alternativeinvestments/2001 1209000900, htm>
(Source: Foundations & Endowment Money Management)
Putnam To Combine DB, OC Teams
<http://www.institutionalinvestoroniine.com/liochannel/moneymanagement/20011211000532.htm>
(Source: Money Management Letter)
Argentina: Banks To Renew Letes
<http://www.institutionalinvestorontine.com/iiochannel/latinamerica/20011211000543.htm> (Source:
Internet Securities)
Funds Adopt Countermeasures To Lawsuits

<http.//www.institutionalinvestorontine.com/iiochannel/mutualfunds/20011211000709.htm> (Source:
Fund Directions)

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00500000000312


1A 24.01 MAE ST, 11:08, N0. 4260060906 P
eacounlee tidal AE: ! ane :

THE WORLD BANK
OFFICE OF THE US, EXECUTIVE DIRECTOR
1818 H Street, NW Room MC-13-525
Washington, DC 20433

DATE: NUMBER OF PAGES INCLUDING COVER SHEET:

Fo: (), otfy Broke Cc
Machida hols

FAX NUMBER:

FROM: Robin R. Riterhoff, Executive Director's Assistant

TEL: (202) +38-3049
FAX: — (202) 477-2967

MESSAGE:

fr AB crore A a [wh Q behhe..,

00800000000047


{(b)(5)]

Secretary O'Neill
Peter Fisher
Dave Aufhauser

Mark Weinberger
John Duncan

01200000000888


~Oniginal Message-~-~

From: Katz, Nancy

Sent: — Monday, Apri 30, 2001 8:46 PM

To: Loevinger, David; Lung, Richard; McCoy, Christopher; Grewe, Maureen; Mills, Marshall

Subject: RE: Q & A's for Potential Press
Ni draft something on Iran and coordinate with Maureen and Gary.

——~Ongynal Message—
From: Loevinger, David

Sent: Monday April 30, 2001 6:33 PM

To: Lung, Richard; McCoy, Christopher; Grewe, Maureen; Mills, Marsha

Cer Katz, Nancy
Subject: RE: Q&A's for Potential Press conference

from today’s meeting sounds like we might need an Iran memo too

From: Lung, Richard
Sent: Monday, Aprt 30, 2001 6:43 PM
1 ‘Grane, Deborah; Dupuy, Jewel, Andrew; Loevinger, Dawid; McCoy, Chnstopher, Morns, Lita; New, Jeff;

(, Max;
Quinn, Lois; Wingle, John; Zot, Andrew
Katz, Nancy

Q&A's for Potential Press conference

foe

Subject:

Could you all update/brush up the Q&A's for a possibly press conference by the Secretary at the AsDB
Annual i

((b)(5)}

Ce:

Other items may be on the agenda as well. Thanks,

00500000002276


Indonesia

[Outside of Scope]

00500000000298


Business Council for Int'l Understanding
C & M Intemational
C/K International, LLC
‘Cadore Moda, Inc,
California Council for International Trade
Cargill, Incorporated
(Caribbean/Latin America Action
CaseNewHolland Inc,
Caterpillar Ine,
Cato Institute
Central Soya Company, Inc,
Chamber of Commerce of the US in Argentina
Chamber of Commerce Uruguay-U.S_A.
‘Chilean-American Chamber of Commerce
Citizens Against Government Waste
Citizens for a Sound Economy
Cleveland-Cliffs Incorporated
Coalition for Employment through Expons
Coalition of New England Companies for Trade
Coalition of Service Industries
Coastal Lumber Company
Colombian-American Chamber of Commerce
(Compaq Computer Corporation
Computer Sciences Corporation
ConAgra Foods, Inc.
Construction Industry Manufacturers Assoc.
Consumers for World Trade
Coors Brewing Company
‘Costa Rican-American Chamber of Commerce
Council of the Americas
it ier Corporation
Deere & Ci
Dell Computer c
Denny Miller McBee Associates
Dessault Falcon Jet Corp.
Detroit Regional Chamber of Commerce
Distilled Spirits Council of the US
Diversified Marketing, Inc.
Doane Pet Care Company
Domestic Petroleum Council
Dow Corning Corporation
DTB Associates, LLP
Duberstein Group
DuPont
Dykema Gossett
Eastem Caribbean American Chamber of Commerce
Eastman Kodak Company
Eaton Corporation
Emergency Committee for American Trade (ECAT)
Ecuadorian-American Chamber of Commerce/Guayaquil
Ecuadorian-American Chamber of Commerce/Quito
EDS
EI Nino Group, Lid,
Elan International
Electronic Industries Alliance
Eli Lilly and Company
Elkay Manufacturing Company
Emerson
Enron Corp.
Equipment Manufactures Institute
Excel Foundry and Machine, Inc.
ExxonMobil Corporation

00500000000322


[(b)(5) and outside scope]

01200000001166


KEY ISSUES

[(b)(5) and Outside of Scope]
{(b)(5)]
[(b)(5) and Outside of Scope]

ATTACHMENTS: Tab A:
Tab B:
Tab C;
Tab D:
Tab E;

OPIC Summary of Dabhol Power Company Situation (OPIC)
Suggested guidance on Enron (National Security Cs ‘ouncil)
Economic Overview (G. Rao)

Selected Economic Indicators (G. Rao)

India Tax Treaty Issues (M. Mundaca, M. Feinberg, D. Suringa)

00500000002130


line. comiionline/emails/images/blank.gif> CORPORATE FINANCE
ea — ‘Aero Lead With Combo, Debt, Equity Package
<http://www. institutionalinvestoronline.com/iiochannel/corporatefinance/20011226000799.htm>
Citibank is syndicating a $200 million credit line for Dallas-based Avial! after nudging out previous lead
FleetBoston Financial with the offer of a debt and equity package.
Read Full Story
http://www, institutionalinvestoronline.com/iiochannel/corporatefinance/20011226000799.htm>
Source: Loan Market Week <http://www.loanmarketweek.com/>

shttp:

RESEARCH: Sie Best Of The Boutiques A And Regionals

<http://www. institutionalinvestoronline.com/iliochannel/people/20011219000784.htm>

For Keefe, Bruyette & Woods, rebuilding the firm means rebuilding its vaunted research department, Read
more about this and see this year’s rankings.

Read Full Story <http://www.institutionalinvestoronline.com/iiochannel/people/20011219000784.htm>
Source: Institutional Investor Magazine <http://wew liplatinum.comy>

Also in the News
http://www. sfominin heaeeinorteooam ce a mp oa tm |_email_alsonws_head.gif>

Argentina Eyes ‘Overtumning 13% _ And penta ‘Cuts
<http://www, institutionalinvestoronline.com/iliochannel/latinamerica/20011226000699.htm>
(Source: Internet Securities, Inc.)

Claimants Cannot Recover Funds In Largest Arb Award Ever
<http://www.institutionalinvestoronline.com/liochannel/banking/20011226000797.htm>
(Source: Wall Street Letter)

Renaissance Fund To Ban Secret Investors
<http://www. institutionalinvestoronline.com/liochannel/alternativeinvestments/20011221000954.htm>
(Source: Institutional Investor Magazine)

Beltway Battle Holds Up Pension Relief Push
<http://www.institutionalinvestoronline.com/liochannel/uspensions/20011220000323.htm>
(Source: Institutional Investor Online)

Calif. To Solicit Bids For Second 529 Plan Sponsor
<http://www. institutionalinvestoronline.com/iiochannel/mutualfunds/20011226000232.htm>
(Source: Fund Action)

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2

00500000000306


((b)5))

01200000000886


Davis, Michele =

—— — ——. —
nor Thursday Jeri 10, 2002 2:12 PM
Sent: . January 10, fa}
To: Michele bioves .treas.gov
Subject: RE: enron and ell
reply. + you're ir just left a message on your machine. is there another
number with « live beay?
3

0800000000095


FROM {FR!) 6 30°00 18:54/8T. 12:26,N0. 4260060468 P 4

{(b)(5)]

00500000001014


Davis, Michele

From: Davis, Michele

Sent: Thursday, January 10, 2002 10:41 AM

To: Adams, Tim; Fisher, Peter; Bair, Sheila

Ce: Nichols, Robert, Fratto, Tony; Holahan, Betsy
Subject: Arion Enron this morning

{(b)(5))

00800000000088


Rao, Geetha

a

From: Grewe, Maureen
Sent: Toesday, May 01, 2001 10:27 AM
To: Rao, Geetha
Subject: RE: Q & A's for Potential Press conference
((b)(5)]
Thanks.
wen Original Message——
From: Rao, Geetha
Sent: Tuesday, May 01, 2001 10:00 AM
To: Grewe, Maureen; Kifayat, Adnan; Mils, Marshall
Subject. RE: Q & A's for Potental Press conference
India
{(b)(5)]
——Crigina! Message
From: Grewe, Maureen
Sent: Tuesday, May O1, 2001 8:35 AM

To:

Kifayat, Adnan; Mills, Marshall; Rao, Geetha

‘Subject: FW: Q & A's for Potential Press conference

FYI—on

send me your ideas for questions and let's try to get them done by tomerrow moming.

FAS: (b)5)]

\eeiha — can you coordinate with Chris Winship on that one? Not sure what the deadline is, but

00500000002275


Davis, Michele

From: Cuddy, Matt (NBC, CNBC: .Cuddy@nbc.«
Sent: Thursday, : 10, 12:43 PM ned
To: ‘Michele. Davis .reas.gov’

Subject: Enron Contacts

Michele,

Ari just said we needed to ask Treasury if we wanted to know the date of Mr.
O'tleill*s contacts/conversations w/ Mr. Lay of Enron. Can you get us that
fate? Ari said he wasn’t sure of the exact date.

Thanks - matt
Matt Cuddy

CNBC Washington
202) 776-7405

Because e-mail can be altered electronically,
the integrity of this communication cannot be guaranteed.

00800000000089


President Promotes Economic Security & Worker Assistance
TODAY'S NTIAL ACTION

> President Bush visits Operation Paycheck — a job training center in Orlando, Florida — to emphasize his concern and
his plans to help workers who lost their jobs in the wake of the September 11 altacks. The President also leads a
town hall meeting with local citizens from a community adversely impacted by the September 11 attacks to discuss
economic concems and America’s efforts in the war on terrorism.

The attacks of September 11 were also an attack on our economy. President Bush continues to urge Congress to
act on an economic security package to help America's workers.

BACKGROUND ON THE PRESIDENT'S VISIT

> The President visits the newest Operation Paycheck One-Stop Center in Orlando. Operation Paycheck is a program
of the State of Florida's Agency for Workforce Innovation that helps laid-off workers obtain the skills they need to
quickly transition into a new job. A significant number of the workers in the Operation Paycheck program are from
the service sector, including the tourism and aviation industries.

The One-Stop Center is an example of how an effective state-lederal partnership can quickly get assistance to the
displaced workers who need it, Florida is implementing the Operation Paycheck program with $10 million in existing
dislocated worker funds from the Department of Labor. The program will further benefit from a portion of the $3.4
million in new National Emergency Grant funds that the Department of Labor approved for Florida this week. With
these funds, qualifying employees are eligible for income support and job training

President Bush has urged Congress to act on an economic security package to jumpstart the economy and directly

help workers who have lost their jobs in the wake of the September 11 attacks.

> The President proposed a Back to Work Relief Package on October 4 to provide help to those workers hardest hit by
the economic impact of the attacks. This package would:

Extend unemployment benefits by 13 weeks for workers in the states hardest hit by the events of September 11;
Provide $3 billion in special National Emergency Grants to help displaced workers maintain health coverage,
supplement their income and receive job training;

Make $11 billion available to states to help low-income workers obtain health insurance; and

Encourage affected workers to take advantage of more than $6 billion in existing federal job search, training and
placement programs.

The President initially urged Congress on October 5 to enact an economic security package that focuses on:

> Accelerating Marginal Tax Rate Reductions: Gives consumers more to spend and invest, and gives businesses
and entrepreneurs more resources to help them retain or create more jobs.
Partial Expensing: Encourages businesses to invest in new equipment and resources by allowing them to
partially expense capital expenditures, allowing them to make purchases they might not otherwise have been
able to afford.
Eliminating the Corporate AMT: Promotes new investment by businesses by eliminating the corporate
alternative minimum tax, which imposes job-killing higher taxes on corporations and small businesses.
Tax Retief for Low- and Moderate-Income Workers: Reduces taxes for jow- and moderate-income households
beyond relief already approved by Congress, ensuring that the most vulnerable workers will have more money in
their pockets,

For more information on the President's initiatives please visit www.whilehouse. gov

00800000000134


Davis, Michele
—

~ |

rom: Deis, reine oe

nts lecnesday, November 28, 2001 3:21 PM
To: Fisher, Peter

Ce: Holahan, Betsy

Subject: Enron question

erties _— wants a Treasury response to the question: do we see any systematic risk developing from Enron's
lown

{(b)(5)}

00800000000137


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Engelhard, Joe

From: Robert Elsasser@ny.frb.org
Sent: Thursday, November 08, 2001 3:58 PM
To: andrew jewell@do,treas.gov; anna.corfielc@do.treas.gov; brian.roseboro@do.treas.gov;

gregory. berger@do.treas.gov; james.sharer@do.treas,. gov; jeff huther@co,treas.gov;
jill. cetina@do.treas gov; joe.engelhard@do.treas.gov; john. ralyea@do .treas.gov;
jobn.taylor@do .treas. gov; kathleen.byrne@do.treas.gov; ken.dam@do.treas.gov;
lois.quinn@do.treas.gov; mark.sobel@do.treas.gov; meg donovan@do.treas.gov;
paul. malvey@do.treas.gov; paul.o'neill@do.treas.gov; peter-fisher@do.treas.gov;
ramin.toloui@do.treas.gov; shirley. gathers@do.,treas.gov; suzanne. boughner@do .treas.gov;
tim adams @do.treas. gov; tim. dulaney@do.treas. gov; troy.wray@do.treas.gov

Subject: Enron Update

tern doe
Enron requires little introduction, The following analysis written by
Lorie Logan, Olivia Padilla and Mike Schetzel summarizes the blow to the

debt and equity prices of Enron and other energy companies, and also
examines the impact thus far on the energy trading markets.

2

00500000000316


{(b)(5) and outside scope]

01200000001165


{(b)(5)]

00300000000125


11/05/99

15:46 2026221187

euul

TRANSMISSION OK

TX/RX NO.
CONNECTION TEL
CONNECTION ID
START TIME
USAGE TIME
PAGES

RESULT

\CTIVITY sat
SSeS eeeeeeeeeeeeese

4674

94523101
21/05 15:44
02°20
5
OK

01000000001455


Df
2
Ww oe ay a
bok are{ Gt
Wo
ee
MEMORANDUM FOR ASSISTANT SECRETARY BAIR ~~
THROUGH: Edward J . Demarco
Director
Office of Financial Institutions and GSE Policy
FROM: Neal McCall

SUBJECT: December 17, 2001 Meeting of the Pension Benefit Guaranty
Corporation's Advisory Committee

[OUTSIDE SCOPE , (b)(5)]

01200000001156


{(b)(5) and outside scope]

01200000001162


[Not Responsive]

00500000001321


Flanagan, Rosemary

From: Clarida, Richard

Sent: Thursday, January 17, 2002 4:41 PM

To: Flanagan, Rosemary

Subject: FW: proposed outline for the terrorism insurance project
—~Onignal Message——

From: Worshawsky, Mark

Sent: Friday, January 11, 2002 12:23 PM

To: Clarida, Richard

‘Subject: Proposed outline for the terrorism insurance project

Rich,

The outline, which Lucy, John, and | have put together, is attached
{()(5)]

See you on Monday.

¥)

TeenneseOusire 03
Mark ‘

00300000000124


Robbins & Myers, Inc.

Rockwell

Rockwell Automation

Rockwell Collins

Rohm and Haas Company
Rolls-Royce North America Inc.
SAMA

Salt Institute

Samuels International Associates, Inc.
Sayer and Associates

SBC Communications, Inc
Schering-Plough Corporation
Schmeltzer Aptaker & Shepard, P.C.
Sears, Roebuck and

Secondary Materials and Recycled Textiles
Semiconductor Equipment and Materials International
Service Tool & Die Company, Inc.
Shelby Industries, Inc.

Siemens

Small Business Exporters Association
Solutia Corp.

South Carolina Export Consortium
Springs Industries, Inc.

St. Maxens & Company - Mattel
Steel Hector & Davis LLP

Steel Service Center Institute
‘StorageTek

‘Students for Trade

‘Sun Microsystems, Inc

Target; Spiege! Group
Telecommunications Industry Association
Texaco Inc.

Texas Association of Business & Chambers of Commerce

Texas Instruments, Inc.

Texas International Trade Alliance
Textron Inc.

‘The Adhesive and Sealant Council

The Aluminum Association

The Boeing Company

The Bretton Woods Committee

The Business Roundtable

The Chubb Corporation

The Dow Chemical Company

The Fratelli Group

The Gillette Company

‘The Goodyear Tire & Rubber Company
The McGraw-Hill Companies

‘The Mid-America Commitice

The Motion Picture Association of America
The Port Authority of NY & NJ

‘The Principal Financial Group

The Procter & Gamble Company

‘The Quaker Oats Company

The Rushford Report

The Wexler Group

Tooling and Manufacturing Association
Toy Industry Association

TradeCom International, Inc.

Trinity Industries Inc Plant 474

TRW Inc.

U.S. Chamber of Commerce

U.S, Council for International Business

2

00500000000325


From: Davis, Michele
Sent: December 05, 2001 9:45 AM
To: Holahan, isher, Peter
Cc: Gross, Jared
Subject: RE: WSJ Interview Request
((b)(5)]

dnacanins Oricinal Message-----

From: Holahan, Betsy

Sent: Wednesday, December 05, 2001 9:26 AM
To: Davis, Michele; Fisher, Peter

Ce: Gross, Jared

Subject: WSJ Interview Request

I askec Greg Ip for more information regarding an interview request he put in for Peter
earlier this woek.. [(b)(5)] Thanks.

-----Original Messsge-----

From: Ip, Gregory [mailto:Gregory.Ip@ws4.com]
Sent: Tuesday, December 04, 2001 3:50 PM

To: ‘Betsy.Holahan#do.treas.gov’

Subject: RE: Interview Request:

Betsy -

respect to the disclosure and regulation of derivatives and other sources of
systemic risk since LTCM, why, or why not. Peter was talking to us {on the
record) in August about this issue. We'd like to follow up on that
discussion, and on things like the report of the Financial Stability Forum
on enhanced disclosure that he chaired, to see where he thinks we've made
progress and where more work needs to be done. As I mentioned, we are on 4
short deadline but if he can't do it by tomorrow, Thursday would probably
also work.

We're asking the question {in the light of Enron}, how much has changed with a

Thanks.

Greg Ip }
Economics Reporter

The Wall Street Journal

202-862-9238 (office)

[(by6)] (cell)

Original Message--
From: Betsy.Holahan@do.treas.gov [mailto:Setsy.lolahan@do.treas.gov)
Sent: Tuesday, December 04, 2001 11:56 AM

To: Ip, Gregory

Subject: Interview Request

Greg,

Can you e-mail me rore specifics about the derivatives story you are working
on? What types of things you would like to discuss with Peter, etc. Thanks!

Betsy

00800000000133


{(b)(5)}

GAITINBonnie\India invt climate.doc

00500000000168


>
>

Attachment Converted: “c:\RDrive\Attach\participants1210.doc”

Attachment Converted: “c:\RDrive\Attach\Points on US Concernst.doc”

Attachment Converted: “c:\RDrive\Attach\Responses to GOJ Specific Concerns doc”
Attachment Converted: “c:\RDrive\Attach\Japan's Investment Climate ppt”
Attachment Converted: “c:\RDrive\Attach\openingstmt doc”

Attachment Converted: “c:\RDrive\Attach\Larry's FDI.ppt”

Attachment Converted: “c:\RDrive\Attach\US Participants.doc”

00500000000007


[(b)(5) and Outside of Scope]

00200000000148


Strickler, Marie

oe

From: Bradshaw, Tara
Sent: Wednesday, December 05, 2001 5:42 PM
To: Holahan, Betsy, Lee, Sharon; Fratto, Tony; Scolinos, Tasia; Strickler, Marie; Alvarado,

Carmen

Ce: Davis, Michele; Nichols, Robert
Subject: RE: Geod Night
goodnight
From: Hotahan, Betsy
Sent: Wecnesday, Decernber 05, 2001 5:28 PM
To: Lee, Sharon; Fratto, Tony; Beadshaey, Tara; Scolines, Tasia; Stricker, Marie; Alvarado, Carmen
ca Davis, Michele; Nichols, Robert
‘Subject: RE: Good Nignt
GN

Washington Post is doing a story on predatory lending and wanted to find out what Shelia has been saying on it. |
referred the reporter to her recent speeches, on the web site, for Sheila's description of best practices, Wall St.
Journal writing Enron/derivatives story for Friday.

Original Message—

From: — Lee, Sharon .

Sent: Wednesday, Decernber 05, 2001 5:16 PM

To: Fratto, Tony; Bradshaw, Tara; Scolinos, Tasia; Holahan, Betsy; Strickler, Marie; Alvarado, Carmen
ca Lee, Sharon; Daves, Michele; Nichots, Robert

Subject: Good Nght

Both Rob and Tony are out. However, please let me know when you get a chance. Also, please remember to
update Michele of any important press tems,

00800000000663


] Arl, alter the broakfast, Speaker Hastert and Leader Gophardt reth
said that they believe Congress is right to engage in a broad investigation ot
Enron. And both said that they were open to the idea of having some remedial
legislation drafted to protect shareholders, such as those of Enron's, who were
affected when their 4Ci(k)s were frozen as the stock value of the company
plurmeted.

Question one, dees the White House support any kind of inquiry into
legislation like that? And, two, Mr. Gephardt ssid the entire Enron situation
raises questions anew about the President's ideas about privatizing, even
partially, Secial Security, because assets held in those funds are subject to
all sosts of market pressu: . they could disappear overnight. And the Enron
situation adds more evidence, the Democrats complain, you just simply cannot and
should net privatize Social Security. Your reaction?

MR. FLEISCHER: Okay. On the two points -- on the first point, as you
Know, right from the beginning I announced that the Department of Treasury and
other government agencies are monitoring the events in the wake of the
announcement about Enron. And since I said that, Enron has, of course, filed
for bankzuptcy.

You may want to talk to the Department of Labor. The Department of Labor
has jurisdiction over pension issues. It is not uncommon for the Department of
Labor, in ea time like this, to keep a watchful eye over people's pensions to
nake sure that any consequences are fairly and adequately dealt with. So they
are the agency that would be involved, They have their own criteria to
determine whether or not they will have any type of investigation, Sut the
President wants to make certain that all agencies are monitoring events and will
take action as their criteria warrant.

On the second point about markets, you know, one of the things about our
country is thet unfortunately, we can be a land of haves and have-nots. And one
of the things that distinguishes the have-nots and the haves is the haves have
access to ownership of stock and mutual funds. And, therefore, they hav:
little piece of a rock that can grow and allow them to enjoy more wealth and a
better life.

There are many people in society who would like to have access to markets,
go that way they can accumulate wealth. And often, they can't. Social Security
is one of the reasons they can’t. Young people have all this money taken out of
theic paychecks, and often they do not receive any return on it, specifically
people whe are young today pay taxes for a system that is scheduled to go broke
before they have any return.

So one of the ways the President sees as helping workers who have a low
income is to allow them to have the same market access that upper-income and
middle-income people have, so they, too, can accumulate wealth.

@ That doesn't do anything for the Enron 401K.

Q Yesterday, the President and Secretary O'Neill went out of their way
to talk about Hamas as a terrorist group with gicbal reach. Is that the first
time that thot definition has been applied to a Palestinian group? And
secondly, this was the first time the President had acted against e group not
associated with al Qaeda. What significance should we attach to that?

MR. FLEISCHER: On the first point, I couldn*t tell you if that's the first
time. I think you would have to take a review of that and see what you -~- I
can’t tell you from everybody in every government -- branch of the government if
people have ever used such language. But as you know, Hamas was added to the
executive order that the President issued on November 2, allowing the United
States to block or to freeze the as: 3 of groups.

The announcement yesterday was on top of that. It was built on the
foundation of his November 2 announcement, And I think it shows the world that
the President is sincere and will act when he ways that this is a mvulti-front
war and financing of terrerist organizations is one of the fronts at which the

u

0800000000119


FROM (HED) 1, 26°01 11-11-87. 11:08-NO. 4260060906 P 2

AMERICAN-TURKISH COUNCIL

915 1SrH St, NW, Tre FLOOR
WASHINaTON DC, 20005

PHONE; 202-763 0463

Fax: 202-783 O51!

EMAL. clc@amerlcanturkishcounell.erg

FAX COVER SHEET

Dare; 23 January 2001
Mr. Todd Crawford

TO:

Fm: Thomas Briggs
Wax: 202-477-2967
TOTAL PACES (INCLUDING THIS Cover sHEETI: 3

if THERE IS A PROBLEM WITH THIS FAX. PLEASE CONTACT THE ATC OFFICE At
202-783 0483.

The cecompanying matesil is for the private information of the addressee, and should not be
interpreted a5 a solicitation or col to action fegarcing cny legislation or senior administrative
executive or legislative action.

MEessace:

Website address: www.americanturkishcouncil_org

ATC...A BUSINESS Association dedicated to the Friendship and the Promotion of U,S.-Turkish
Commercial, Defense and Cuirural Relations.

” 00800000000044


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00500000000307


MEMORANDUM FOR JOSHUA BOLTEN
DEPUTY CHIEF OF STAFF
WHITE HOURSE

FROM: Sheila C. Bair
Assistant Secretary for Financial Institutions
SUBJECT: Policy Issues Presented by the Enron Bankruptcy

Per your request, below are some of my preliminary personal thoughts on the important policy
issues presented by the Enron bankruptcy and some areas that might be ripe for reform.

{(b)(5))

01200000000885


[Outside of Scope]

00500000000003


09/14/89) 10:16 2026221157 LLR wuul

Sessessssesee
| REPORT #¢¢
jsessesresessessesssssese

TRANSMISSION OK

TX/RX NO. 4505

CONNECTION TEL 99429643
CONNECTION ID SEC MR FRONT OFC
START TIME O9/14 10:14

USAGE TINE 62°08

PAGES 5

RESULT oK

01000000001458


|TOP STORIES THIS WEEK|
TERNA’ INVESTMENTS www it

Goldman Equity Heavy Hitter To Launch Hedge Fund

J. David Rogers, a former Goldman Sachs equity derivatives star, has started a hedge fund firm called JD Capital
Management and is looking to hire a staff of about 22, most of whom will be traders and researchers.

Souwce Derivatives Weok <hitp:/www.derivativesweek com>

Click here for the full story:

Ip u/ www. institutional

Aquila U-Turn Leaves Investors Short-Changed

UtiliCorp's decision to buy back the 20% of Aquila, the unregulated energy trading business it spun off in April in an initial
Public offering, has angered investors and analysts and could lead to the move being blocked unless the terms of the
repurchase are sweetened.

‘Source: Power Finance & Risk <http/www jipower.com/>

Click here for the full story:
w.inst as

ABN Amro Buys Out ING Contracts, Slashes Own Staff

A number of senior managers from the former ING Barings who had stayed on after it was bought by ABN Amro earlier
this year came into work to find their two-year pay contracts had been bought out.

Source: Corporate Financing Week <http://www.corporatefinancingweek.cony>

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chitp /wvewy an onal

MUTUAL FUNDS <hitp:/www.institutionalinvestoronline.comifochannelmutualfunds/>

Supply Of Hedge Fund Specialists For Sale To Grow

Mutual fund companies seeking to enter the alternative investment market are finding more boutique hedge fund
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‘Source: Fund Action <hitp:/www.fundaction.com/>

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Honalinvestoron|in

IMF Conditions Payment For Argentina

The International Monetary Fund (/MF) said that an advance payment for Argentina could be made only after a technical
committee review the country’s accounts, while the World Bank denied discussing special help for highly indebted
countries.

Source: Internet Securities <http:/www.securities.com/>

Click here for the full story:
10

00500000000314


From:
Sent: aoe, Asout 23 2001 4:31 PM
To: rover. Michael; Hammer, Viva; Eichner, Matthew
‘Subject: ‘etail Swaps Study-Blackbird & Enron Interviews
Raed corre
FINALE wom
erent Original Message-----

From: Remy, Christine [mailto;cremyé@CFTC.gov)

Sent: Wednesday, August 15, 2001 9:39 AM

To: 'blainebesec.gov'; ‘kurt .wilhelm@oce.treas.gov';
tthew.eichnergdo.treas.gov'; ‘mbrownesfdic.qov
‘norman. carleton@do.treas.gov'; ‘polisej@sec.gov’
*patrick.parkinson@frb.gov'; ‘dombalagiano@sec.gov
‘Joyce Hansen@ny,.frb.org'; ‘Diane.Virzera@ny.frb.org';
“Adelina.Bonannogny.frb.org'; ‘Bob.Gasperini@ny.frb.org*;

pwhitesfirb.gov’;

*Heidilynne.Schultheissédo.treas.qgov'; ‘Peter.Nickoloffedo.treas.qov’

Cc: Fox, Elizabeth L. R.
Subject: Retail Swaps Study-Blackbird & Enron Interviews

Attached please find final versions of the notes from the Blackbird & Enron

interviews, The only distinction between th

notes and those that were

circulated on Monday, 8/13 is that the notes are now marked "confidential"
to identify them as documents that will not be disclosed to the public in

accordance with the terms of the cover letter sent to interviewed

institutions, Please discard Monday's version,

<<Blackbird interview -PINAL.DOC>> <<Enron interview - FINAL.doc>>

>

Tracking: Recipient Delivery
Nove icael Delivered
aor ve Deivered
Elcner attew Delvered

02429

01300000001038


{(b)(5))

CC Secretary O'Neill, Peter Fisher, Dave Aufhauser, Mark Weinberger, John Duncan

00800000000107


| DEPARTMENT OF THE TREASURY

OFFICE OF THE GENERAL COUNSEL
ROOM 1418
1500 PENNSYLVANIA AVENUE, N.W.
WASHINGTON, D.C, 20220

TELEPHONE: 202-622-2317
FAX: 202-622-1188

E-MAIL: tom.mogivern@do.treas.gov
DATE: SEPTEMBER 14, 1999
NUMBER OF PAGES TO FOLLOW: 4

TO: ROBERT COLBY
DEPUTY DIRECTOR, SEC DIVISION OF MARKET REGULATION

FROM: TOM McGIVERN
DEPUTY ASSOCIATE GENERAL COUNSEL

SUBJECT: Cadwalader fax on proposed bankruptcy hetting provision changes

COMMENTS. We received the attached fax from Enron/Cadwalader regarding their
proposed changes to the Working Group legislation on financial contract netting. We
are interested in your comments ASAP so we can assess how to respond. Thanks
much.

This facsimile transmission cover sheet and any documents accompanying it are intended only for the use
of the individual or entity to whom they are addressed. These documents contain information that may be
Privileged, confidential or exempt from disclosure under applicable law. If you are not the intended recipient,
you are hereby notified tnat any disclosure, dissemination, copying or distribution, or the taking of any action
in reliance on the contents of this communication, is strictly prohibited. Ifyou have recerved this fax in error,
please notify the sender immediately by telephone to arrange for the return of Ihe materials.

01000000001457


Sent: ay J 10, 2002 2:19 PM
To: Casay hist , CNBCY
Subject: RE: Enron Contacts

Lay simply informed the Secretary of the status of things at Enron at the time. The
cretary didn’t offer or consider any intervention. When Evans called O'Neill to teil
O'Neill he'd also received a call from Lay, both agreed there waz nothing to even consider
doing.

Original Measage-----

From: Cuddy, Matt (NBC, CNBC) [mailto:Matthew.Cuddy@nbc.com)
Sent: Thursday, January 10, 2002 2:08 PM

To: "Michele. Davis@do.treas.gov'

Subject: RE: Enron Contacts

thank you. A follo up, if you don't mind. Was it perceived as a request for
government intervention (i : LTCM bailout)? Ari started the briefing
saying the press would have to ask the Secretary if that was the perception,
but at the end of the briefing he kept saying, "they (O'neill and Evans)
decided no government intervention was necessary.” Seems to imply that
they certainly discussed it or considered it, Can u clarify?

Matt Cuddy
CNBC Washington
(202) 776-7403

>-----Original Message----~

>From: Michele. Davis@do.treas.gov [SMTP:Michele.Davisé@do.treas.gov]
>Sent: Thursday, January 10, 2002 1:56 PM

>To: Matthew.Cuddy8nbc.com

>Subject: RE: Enron Contacts

>

>ll/B and 10/28. Lay relayed info, we said “thanks for the info”
>

>-----Criginal Message-----

>Prem: Cuddy, Matt (NBC, CNBC) [mailto:Matthew.Cuddy@nbc.con)
>Sent: Thursday, January 10, 2002 12:43 FH

>To: 'Michele. Davis@do.treas.gov"

>Subject: Enron Contacts

>

Michele,
>

vAri just said we needed to ask Treasury if we wanted to know the date of
our.

>O'Neilil's contacts/conversations w/ Mr. Lay of Enron. Can you get us that
>date? Ari said he wasn't sure of the exact date.

>Thanks - matt

>

oMatt Cuddy

>CNBC Washington

>(202} 776-7405

>

Because e-mail can be altered electronically,
the integrity of this communication cannot be guaranteed.

vvvvY

Because e-rail can be altered electronically,


fyi

you may have already seen

>» ——Oniginal Message——~

> From: Secor, Peter F

> Sent: Thursday, January 17, 2002 1:58 AM

>To. Honan, Kevin E(Tokyo); Greenberg, Alien S(Tokyo)

> Subject FW. Is Japan Enron? Worth reading on credit default spreads

> in JGB market

>

>

> for Al

> ~--Original Message-——--

> From Asher, David L

> Sent: Wednesday, January 16, 2002 11:14 AM

>To Bauer, Kristen F, 'roberer@ucia gov’; Greenwood, C Lawrence; Mohler,
> Brian J, Kelly, James A (EAP/FO), Larson, Alan P(E); Secor, Peter F(E),

> wmelick@cea.eop.gov’, Palmer, Matthew A(S/P)

> Subject FW. Is Japan Enron? Worth reading on credit default spreads

> in JGB market
>

>
>
> Message—---

> From: Tom.Kushner@ubsw.com [mailto: Tom Kushner@ubsw.com}
> Sent: Wednesday, January 16, 2002 10:25 AM

> Subject Is Japan Enron?

>

>
>

> From the UBSW Sales Desk
>

> Is Japan Enron?

>

> After Enron threw in the towel and went bankrupt, financial news

> agencies and

> pundits in typical Monday morning quarterbacking pointed to the credit
> derivatives markets as a way to have anticipated Enron's eventual

> collapse.

>

> Credit default swaps give you a glimpse into what holders of debt

> actually

> think of the underlying credit. You can enter into a derivative

> trensation to

> hedge yourself if the issuer goes belley-up. Historically Enron traded
> 120-150

> bp for borrowers to pay-up and hedge themselves against an eventual
> default

> It traded as tight 2s 90 bp in Enron's hay-day. As we got close to the
> end,

> Enron was trading 2000 bp!

>;

> Now, enter the JGB market. To enter into credit default swaps for 10
> year JGB

> paper, normally it trades in the high teens. Today, a market for

00500000000004


((b)(5)]

00800000000106


Davis, Michele

—_—_. —

From: Davis, Michele
Sent: Thursday, December 06, 2001 5:41 PM
To: Holahan, Betsy
Subject: RE: Wash. Post story
[(b)(5)]
-Orignal Messages
From: Molahan, Betsy
Sent: Thursday, December 06, 2001 5:16 PM
To: Davis, Michele
Subject: Was. Post story
Kathleen Day wants to talk to someone in Domestic Finance on the financial netting of derivatives. Apparently she’s
that Enron and JP Morgan have just done such a netting and she is trying to find out more about whether

that
is I and what that means (larger picture). She is willing to talk on deep background on this issue. Any thoughts?

00800000000111


From: Davis, Michele

Sent: wees, December 05, 2001 10:01 AM
To: ross, Jared, Holahan, bok,
Subject: Re wSsJ interview Request

((b)(5)]

-----Original Message----~

From: Gross, Jared

Sent: Wednesday, December 05, 2001 9:53 AM
To: Davis, Michele

Subject: RE: WSJ Interview Request

{(o)(5)]

~----Original Message-----

From: Davis, Michel

Sent: Wednesday, December’05, 2001 9:45 AM
To: Hiolahan, Betsy; Fisher, Peter
Ce: Gross, Jared

Subject: RE: WSJ interview Request

((b)(5)]

~Original Message-----

From: Holahan, Betsy

Sent: Wednesday, December 05, 2001 9:26 AN
To: Davis, Michele: Fisher, Peter

Ce: Gross, Jared

Sudtect: WSJ Interview Request

I asked Greg Ip fer more information regarding an interview request he put in for Peter
earlier thia week... Thanks.
{(b)(5))}

e----Original Message
From: Ip, Gregory [mailto:Gregory.Ip@ws}.com]
Sent: Tuesday, December 04, 2001 3:50 PM

To: *Betsy-Holahan@do.treas.gov’

Subject: RE: Interview Request

king the question (in the light of Enron), how much has changed with
the disclosure and regulation of derivatives and other sources of
systemic risk since LTCM, why, or why not. Peter was talking to us {on the
ord} in August about this issue. We'd like to follow up on that
discussion, and on things like the report of the Financial Stability Forum
on enhanced disclosure that he chaired, to see where he thinks we've made
progress and where more work needs to be done. As I mentioned, we are on a
short deadline but if he can’t do it by tomorrow, Thursday would probably
alse work.

3

00800000000131


M). 4260060306 P 2

AMERICAN-TURKISH COUNCIL

915 15TH St., NW, 7TH FLOOR
WASHINGTON DC, 20006

Pong: 202-763 0463

FAx: 202-783 0511

EMAIL. clc@americanturkishcounell.org

FAX COVER SHEET

pate; 23 January 2001
Mr. Todd Crawford

TO:

FM: Thomas Briggs
Pax: 202-477-2967
TOTAL PAGES (INCLUDING THIS Cover sHEET): _ 3. Ss

If THERE 1S A PROBLEM WITH THIS FAX. PLEASE CONTACT THE ATC OFFICE AT
202-783 0483.

The cecompanying material is for the private intommation of the addressee. and shovid not be
interpreted as a solicitation or cal to action regarding any legislation or senior administrative
executive ce legislative action.

MESSAGE:

Website ocdress: www.americanturkisncouncil.org

ATC...A business association dedicated to the Friendship ond the Promotion of U.5.-Turk:sh
Commercial. Detense and Cuitural Relations.

00800000000036


(WED) 1. 24°01 ULs11 ST. 11;08°RO. 4260060996 P 2

AMERICAN-TURKISH COUNCIL gawenas Oe

BIS IStH St., NW, 7tH FLOOR
WASHINaToN DC, 20006

PHONE: 202-783 0463

FAx: 202-783 OGt1

Ematt; elc@amerlcanturkishcounctl.org

na MECURET
“eT

FAX COVER SHEET

Dare; 23 January 2001
Mr. Todd Cravford

TO:

Fu: Thomas Briggs
Fax: 202-477-2967
TeTAL Paces (NELUDING THIE Cover sHEETI: 3 ~

Ip THEME 15 A PROMLEM WITH THIS FAX. PLEASE CONTACT THE ATC OFFICE At
202-703 0483.

The eccompanying material is for the private information of the addressee. and should not be
interpreted os ¢ solicitation or coll to action regarding any legistation or senior administrative
executive or legislative action.

MESSAGE:

Website address: www.americanturk! shcouncil. org

ATC...A business association dedicated to the Friendship ond the Promoti lon of U.S -Turkish
Cor.mercial, Detense and Cultural Relations.

00800000000048


08/29/99 13:04MDT Ms. Gay Sills Director of International I pl /3

ROM : AMAZDN WATCH PHONE NO. : 31@ 456 aGeB Jun. 29 1999 11:@GAN Pi

Q
Translation of CIDOB's June 23, 1999 Letter to OPIC x
Santa Cruz, 23 de Junio de 1999
Sedior: George Munoz _

?
PRESIDENTE OPIC \ f
Washington DC., Fax number 202-408-9866 Wa
RE: ENRON - LATERAL CULABA GAS PIPELINE by ra
Dear Mr. George Mufioz:

We are moved by the turn of events in the financial support that you decided to offer for
the installation of the lateral pipeline to Cuiaba. Our concems are the following:

1, OPIC representatives committed that they would deliver the supplemental studies in
Spanish before the decision on financing, but, regrettably, did not comply, as the delivery
was only made recently on June 21, 1999 at 5:30 p.m. preventing us any possibility of
deliberating about this subject.

2. We are aware of the protocol signed on June | Ith, 1999, between conservation
organizations (FAN, Missouri Botanical Garden, MHNNKM, WWF, WCS) and the
sponsors of the pipeline, the same groups that agreed to a “consortium to conserve the
Chiquitano Forest” (CFCC), and a commitment of

SUS 20 million during the next 15 years for Conservation Planes.

3. We don't doubt that the final decision for financing the pipeline project with federal
funds from the United States, approved by OPIC, was due to the agreement between
conservationists and the project sponsors, Therefore, we request more details on the 8
points of recommendations listed in the conservation agreement.

4. Mr. Munoz, is it ethical that the problems that affect us be defined outside of our
territory and without our consent? Does OPIC also think that the existence of one of the
principal chiquitano forests, recognized as “one of the most extensive, least disturbed and
well preserved dry tropical forests” exists because of the conservation organizations?

No, definitely, not. Lf tropical forests still exist it is because indigenous people exist. The
well-preserved state [of forests] is due to the traditional management that we still
practice, but projects such as the pipeline and others alter our habitat, our forms of life.
These alterations can't be compensated because they cause irreversible damages, we can
avoid the impacts (for example by the alternative route proposed), or we minimize them,
but the damage remains.

5, Given these considerations, we request categorically from you the following:

As the principal party responsible for financing the pipeline, that you formally guarantee
the participation of three representatives of the indigenous peoples in the Steering
Committee of the Conservation Consortium for the Chiquitano forest (CFCC) in the

00500000000033


((b)(5)}

01200000001189


Davis, Michele

From: oom, Michele 0, 393 PM
Sent: rosay' Janu 2002 3:
To: Quinn, Katie; Robert
Subject: RE; enron
{(b)(5))

~-—Onginal Message

From: Quinn, Katie

Sent: ‘Tuesday, January 08, 2002 2:54 PM

To: Nichols, Robert; Davis, Michele

Subject: qrren

Michele and Rob,

Do happen to know what entity within Treasury would be responsible for examining Enron. | know the Secretary
involved in that case.

|. the Permanent Subcommittee on Investigations. They

made some comment to the press about a reveiw of the
The question has come up because | received a call from

have launched a major congressional investigations into this matter and are interested in Treasury's role.

Any direction you can provide would be appreciated.

00800000000108


[(b)(5) and Outside of Scope]

Max Dupuy (622-0354)

00500000000299


[Not Responsive and (b)(5)]

00500000001325


To: Josh
From: Sheila
Re: Policy Issues Presented by the Enron Bankruptcy

Per your request, below are some of my personal thoughts on the important policy issues
presented by the Enron bankruptcy and some areas that might be ripe for reform.

((b)(5)]

00800000000104


Click here for the full story:
‘shttp://www. institutionalinvestoronline.com/iochannel/corporatefinance/2001 1029000900.hIm>

SEC'S TERRORISM MANDATE; Funds Cos, Race To Name Point Person

‘Source: Fund Action <hitpJwww.fundaction.com>

Federated Investors, Delaware Investments, Davis Selected Advisers and John Hancock Financial Services are among
the fund companies that are naming top officials, In some cases from the back office, to oversee procedures lo trace
terrorist activily, just as the Securities and Exchange Commission has requested that investment companies and other
organizations take steps to better coordinate with government officials.

Click here for the full story:

chitp)

Final Chapter Near For BondBook

Source: Bond Week <htipuiweww.bundweek com

A senior executive involved with BondBook, the dealer-owned online corporate bond trading platform, says the company
will likely shut its doors by the middle of November. Layoffs of its approximately 100 employees are slated to begin soon,
he says.

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<http:/www.institutionalinvestoron|ine.combochannevVinstitulionaltrading/2001 1029000860,htm>

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00500000000318


((b)(5)}

02431

01300000001040


Strickler, Marie

From: Holahan, Betsy

Sent: Wednesday, December 05, 2001 5:28 PM

To: Lee, Sharon; Fratto, Tony; Bradshaw, Tara; Scolinos, Tasia; Strickler, Marie; Alvarado,
men

Ce: Davis, Michele; Nichols, Robert

Subject: RE: Good Night

GN

Washington Post is doing a story on predatory lending and wanted to find out what Sheils has been saying on it | referred
the reporter to her recent speeches, on the web site, for Sheila's description of best practices, Wall St. Journal writing
Enron/derivatives story for Friday.

sQnginal Message:
From: Lee, Sharon

Sent: Wednesday, December 05, 2001 $:16 PM

To: Fratto, Tony; Bradshaw, Tara; Scolines, Tasta; Holahan, Betsy; Strickler, Marie; Atvarado, Carmen
Ce: Lee, Sharon; Dams, Michele; Nichots, Robert

Subject: Good Night

Both Reb and Tony are out. However, please let me know when you get a chance. Also, please remember to update
Michele of any important press items.

00800000000664


06/29/99 13:04MDT Ms. Gay Sills Director of international I p2 /3

FROM : AMAZON WATCH PHONE NO. : 318 456 @388 Jun. 23 1993 11:84am P2

following manner: 1 representative from CPESC, 1 representative from CIDOB and 1
technical representative from CPTI-CIDOB. This participation ought to be established in
written from in the final agreement that is planned to be signed in 60 days.

6. We justify this request with the reasoning that so much of the monitoring and the
environmental management plans in our territories and our forests can't be fulfilled
without our participation, but in addition you should consider that [ILO] Convention 169
guarantees our rights and consequently, there are entities through which we are able to
formally make denouncements in the case there is an agreement that violates our rights
(International Labor Organization, the Organization of American States, the Inter-
American Court and the also the North American Congress).

Without anything further, and waiting your response, we offer you our regards.

Gueisa Duran

Secretary of Ecology and Development - CIDOB
Marcial Fabricano

Vice President - CIDOB

cc. Harvey A. Himberg, OPIC
Atossa Soltani Amazon Watch

00500000000034


TABE
INDIA TAX TREATY ISSUES

For Use on an If Asked Basis Only

[(b)(5) and Outside of Scope]

00500000002136


Davis, Michele

From:

To:
Subject:

Thursday, January 10, 2002 3:48 PM
Davis Michele

dic the White House put out anything in writing? How did he make the announcement?

From: Davis, Michele
Sent: ‘Thursday, Jarmsary 10, 2002 10:21 AM
To: Gross, Jared; Fisher, Peter; Bair, Sheila; Adama, Tim

Subject: FV): Press Guidance on POTUS anmcuncement this momeng re: pensions

~ Original Message-—-
From: Davis, Michele
Sent: Thersday, January 10, 2002 10:20 AM
To: Holahan, Betsy
Ce:

Nichols, Robert
Subject: Press Guidance on POTUS announcement this marning re: pensors

The President announced that the Secretary of the Treasury will convene two groups:

anatye pen Lap ules and regulations

ooo

Ls to reform em to protect employees
Second group

analyze as das disclosure rules

do stockholders have the knowledge they need
Relation to Enron:

((b)(5)]

RE: Press Guidance on POTUS announcement this morming re: pensions

0800000000276


e Willi it continue? Who is going to continue it? She's leaving.

MR, FLEISCHER: Anything involving investigations with the Department of
Custice are sensitive matters that need to be addressed to the Department of
Justice.

Q On trade promotion, as the President meets with members of the House
who are on the fence, is he prepared to de some horse trading?

MR, FLEISCHER: Well, again, as I indicated, the President believes that
trade is right on principle and that is the -- in all the meetings that I have
been in, that has been the argument that he's been making with members of
Congress, about the need te address trade because on principle, he thinks it
helps create jobs.

Having said that, there are certain elements of trade that are always up
for discussion; that there sre valid points that members can make that typically
do get discussed. and there is a lot of consultation that goes on in the trade
precess: many members of Congress, in exchange for giving up their right to
amend an agreement that is submitted to them, seek an additional role in the
negotiations. And so that is not an uncommon request from members of Congress.
So the Fresident will continue to at on principle as he works with rexbers of
Congress anc listens te their ideas.

Q Ari, the President is going to be announcing a new Party Chairman this
ernoon. How active is the President going to be in next year's campaigns?

WR. FLEISCHER: Well, I think that the President will make his
determination about that.” But politics, elections are an ongoing part of a
democracy, ¢ven a cemocracy that's at war. So I think as the President sees
fit, he will increasingly play a cole as the election year rolls around and
we'll duly report that.

Q Ari, can I follow on that? Some Democrats are raising the question if
Governor Racicet will continue in his role @ lobbyist next year, he heads
the Republican Party. What is the President's position? Ooes he believe that
the Gevernor shoulc no longer be a lobbyist next year as he heads the Party?

WR, FLEISCHER: Well, again, I think the President has made no such
announcement yet. So I think until an announcement is made, it's a premature
discussion. But there has been an ample history on beth the Democrat and
Republican side of chairmen being involved in other lebbying or having outside
sources of income; that's not an uncommon practice for both parties.

Q Ari, om the principles the President outlined in the stimulus package
back on October 5th, it seens there is progress being made on all of them,
except accelerating individual tax rates. You said this morning that you
consider that one ef the more stimulative aspects of a package. Does that mean
that the President will not sign a package if it does not contain individual
acceleration rates?

MR. FLEISCHER: Well, the President has been very clear about what he
thanks Congress needs to do. And one of the centerpieces of what Congress needs

to do is accelerate the tax cuts so that it can have an impact on the economy,
so people have more maney to spend and so that the economy can get the boost
that it needs. That is a core component of what the President has proposed.

Q But is it a deal-breaker?

MR, FLETSCHER: No, the President ts right now in the middle of discussions
with members of Congress about how to reach agreement, not how to reach
disagreement. Se he'll focus on that.

Q What can you tell us about the EPA decision to force GE to engage in,
I think, a $500 million cleanup of the Hudson River?

5

00800000000123


Davis, Michele

ee

Sent: Wednesday, December 05, 2001 10:57 AM
T Fisher, Peter, Holahan, Betsy :
Ce: Gross, Jared

Subject: RE: WSJ Interview Request

that sounds good tc me

-----Original Message-----

From: Fisher, Peter

Sent: Wednesday, December 05, 2001 10:34 AM
To: Davis, Michele; Holahan, Betsy

Ce: Gross, Jared

Subject: RE: WSJ Interview Request

dic i send or delete a message already?

((b)(5)]

iginal Message---+*

From: Savis, Michele

Sent: Wednesday, December 05, 2001 9:45 AM
To: Holahan, Betsy; Fisher, Peter

Cc: Gross, Jared

Subject: RE: WSJ Interview Request

((o)(5)]

Original Message
rom: Holahan, Betsy
Sent: Wednesday, December 05, 2001 9:26 AM

To: Davis, Michele; Fisher, Peter

Cc: Gross, Jared

Subject: WSJ Interview Request }

asked Greg Ip for more information regarding an interview request he put in for Peter

1
earlier this week... [(b)(5)] Thanks.

From: Ip, Gregory [mailto:Gregory.Iptws}.com]
Sent: Tuesday, December 04, 2001 3:50 PM
tay.Holahan@do.treaa.gov"

Subject: RE: Interview Request

Betsy ~

We're asking the question (in the light of Enron), how much has changed with
respect to the disclosure and regulation of derivatives and other sources of
systemic risk since LTCH, why, or why not, Peter was talking to us fon the
record) in August about this issue. We'd li to follow up on that
Giscussion, and on things like the report of the Financial Stability Forum
on enhanced disclosure that he chaired, to see where he thinks we've made
progress and where more work needs to be done. As I mentioned, we are on 2

2

00800000000129


[(b)(5) and outside of scope]

{(b)(5)}

[(b)(5) and outside of scope]

Attachments

cc: Jeff Berg
Walter Eccard
Ed Gronseth
Barbara Hammerle
Bob Foss
Debra Diener
Steve McHale
Russ Munk
Tom McGivern
Ken Schmalzbach

0200000000149


Faureday, Sanuary 10 2002 5:51 PM
Iu A .
Holahan, Bets)

FW. another ENRON calFW:

you return this call? It's not about PON's phone ca
nks

its about the review groups.

-----Original Message-----

From ichols, Robert

Sent: Thursday, January 10, 2002 5:46 PM
To: Davis, Michele

Subject: another ENRON calltw:

Rob Nichols

Deputy Assistant Secretary for Public Affairs
Department of the Treasury

{202} 622-2910

-----Original Message-----

From: Fleck, Carole jmailto:CFleck@aarp.org]
Sent: Thersday, January 10, 2002 4:05 PM
To: ‘rebert.nichols@do,treas.gov'

Subject:

Hi Robert,

I'm a reporter for the AARP Bulletin, working for Suzy Crowley. Could you
call me please, 202/434-3346, about today's Bush announcement that Treasury
will be oking into pension rules in light of Enron? If I could talk to you
today, that'd he great -- I'm outa here at 5. If not today, will you please
call me tomoro at home,

hanks, {(b)(6)]

Carole Fleck

00800000000102


Farmland Industries Inc.

Florida Department of State

Fluor Corporation

FMC Corporation

Footwear Distributors & Retailers of America
Ford Motor Company

Foster Wheeler Corporation

French & Company (for IEMCA)
Gamer Holt Productions Inc

Gemmex Intertrade America, Inc.
General Electric Company

Gibson, Dunn & Crutcher

Glass Packaging Institute

Global Trade Information Services
Goddard Claussen

GPC Imemational

Graham Architectural Products

Griffin Johnson

Grocery Manufacturers of America, Inc.
Guardian Industries Corp.

Haitian-American Chamber of Commerce & Industry

Halliburton Company

Hasbro, Inc.

Hispanic Council oa Internationa! Relations
Honda of America Mig., Inc.
Honduran-American Chamber of Commerce
Honeywell Inc,

Hotwait, Inc.

IBFI

Information Technology Association of America
Information Technology Industry Council
Ingersoll-Rand Company

Intel Corporation

International Association of Drilling Contractors
International Business Machines
International Dairy Foods Association
International Housewares Association
International Ice Cream Association
International Intellectual Property Alliance
International Mass Retail Association
International Paper

International Trade Services Corporation
rc

Islamic Institute

ITT Industries

James Orr Associates

Jefferson Waterman Internationa!

John B. Shlaes & Associates

Johnson & Johnson

Joint Industry Group

Jones Walker

Keizai Koho Center

Lakeside Foods, Inc.

Liz Claiborne

Lockheed Martin Aeronautics Company
Lockheed Martin Corporation

Manchester Trade

Manufacturing Jewelers & Suppliers of America
Mazlock, Ine.

Mars, Incorporated

00500000000323


McCall, Neal
Friday, December 21, 2001 3:37 PM
DeMarco, Edward

MEMORANDUM FOR ASSISTANT SECRETARY BAIR

01200000001187


Davis, Michele
—_——

From: Davis, Michele
Sent: Wednesday, November 28, 2001 5:06 PM
To: Fratto, Tony; Nichols, Robert; Holahan, Betsy
‘Subject: RE: EN! questions
{(b)(5))]
eonOriginal Message--~

From: Fratto, Tony

Sent: Wednesday, November 28, 2001 3:38 PM

To: Nichols, Robert; Molahan, Betsy

ca Davis, Michele

Subject: ENRON questions

Importance: High

el tock, qyetton reagaeing eikon loray and refered cuoetons fo Tenestry. and said shat Teoneshy/s ewoetiorne fy
situation,

Michele has cleared a quote to use in response to reporter inquiries:
“We are monitoring the credit markets, as we do every day.”
In response to follow-up questions about evidence of risk in the markets or unusual activity:
“The markets always fluctuate. We haven't seen anything extraordinary.”
Further questions about energy and Enron should be referred to FERC or CFTC.

00800000000138


From: Davis, Michele
Sent: Wednesday, December 19, 2001 6:39 PM
To: Holahan, Betsy
Ce: Fratto, Tony; Nichols, Robert
Subject: RE: Update on my issues...
{(b)(5) and Outside of scope]

-—~--Original Message-~

From: Hotahon, Betsy

Sent: Wednesday, December 19, 2001 6:36 PM

To: Davis, Michele

Ce: Fratto, Tomy; Nichols, Robert

Subject: Update on my tues...

Michele,

| have talked to WSJ re: America West, as well as W.Post,
refiling today. Not sure if any of it will generate a story, Dut you never

and AP. They were all checking in about Al's

{(b)(5) and Outside of Scope]
swaps Federal Fi is telling ready
ne tyiressu. C CFTC, 320 ahd ed Reserve in resconse to Cocaveert feoneet fo for tea. trephine AN

‘swaps.
((o)(5)]

have @ good night,
Betsy

00800000000109


U.S. Wheat Associates
U.S.-Mexico Chamber of Commerce
Unilever United States, Inc.

Union Pacific Resources Group, Inc.
Unisys Corporation

United Parcel Service

United Technologies Corporation

Unocal Corporation

UNOVA, Inc,

US Assn of Importers of Textiles & Apparel
US-ASEAN Business Council
Venezuclan-American Chamber of Commerce
& Industry
Virginia Manufacturers Association
‘Wainwright Industries, Inc.

Warnaco Inc.

‘Waste Equipment Technology Assocaition
WeberShandwick Worldwide

Westvaco Corporation

Weyerhacuser Company

Wheat Export Trade Education Committee
Wilmer, Cutler & Pickering

Wisconsin Manufacturers & Commerce
‘Wood Machinery Manufacturers of America
Woodpecker Home Improvements

World Perspectives

Xerox Corporation

USTrade Secretariat
T: (202) 637-3074
F: (202) 637-3182
E: ustrade@nam.org
www.us-trade.org

00500000000326