Enron aided by Citigroup and JP Morgan?

Senate investigations have brought to light further evidence on the involvement of financial giants in the Enron affair. Investigators believe that Enron took huge loans disguised as income, Citigroup and JP Morgan alone making loans worth US$8bn over nine years by mechanism of offshore shell companies. A JP Morgan email of November 1998 offered as evidence states: ‘Enron loves these deals, as they are able to hide funded debt from their equity analysts.’