David Rosenthal: belief

Transcript context

…Unbelievable. The website was up, and now it's down, and no one's returned any press request for comments on it. The rumors were like 2–2½ years ago at this point. Maybe it actually didn't end up happening. Who knows? Lou still got some money, because he did settle with the government for, I think, $31 million, but he still had plenty of other cash to live on. Two fun little coda moments before we wrap up the story, just to put a bow on things fully before we move into analysis. One, we've talked about Omaha, we've talked about Berkshire Hathaway a lot on this episode. But until this moment, there has been no connection. Warren Buffett, Charlie Munger, Berkshire Hathaway, zero involvement with any of Enron or any of Enron's predecessor companies. However, if you remember from the Dynegy aborted transaction, the assets that secured the $1.5 billion worth of pipelines, the original InterNorth Omaha-based company pipeline, when the deal falls apart and Enron burns through the cash, Dynegy seizes the pipelines. They operate them for a short while, but I think we don't really want these. We should sell these. I don't know where this is going, but this is exactly the type of thing that Berkshire should pick up.…

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