var credit trading ted thanks note coming jpmorgan understand importance var key control measure appreciate may need work institutionalise var culture enron however instance believe initial comment taken context believe general communication issue since inception business monitoring risk via use cumulative sensitivity measure portfolio expressed reported dvolon daily dpr however one rac commercial commercial support appears formally equated sensitivity business var limit longer expected delay completion signed var model informally done would expected business utilise crude possibly necessarily overstated scaling factor based volatility credit spread movements market rac signed scaling factor bryan seyfield david wall propose immediately finally believe commercial commercial support credit trading reprioritising work completed model var reporting communicate new delivery date soon possible look forward discussing rac commercial support interface issues next week regards mike ted murphy 26 06 2000 14 50 sally beck hou ect ect mike jordan lon ect ect fernley dyson lon ect ect bryan seyfried cc rick buy richard causey corp enron enron subject var credit trading please see attached comment bottom string e mails privilege using enron balance sheet comes responsibility adequately report risk form agreed appalling currently incapable calculating var product approved trading several months equally appalling support staff continues unaware importance comments could even considered reasonable obviously individual made comment hardly responsible lies commercial commercial support management know airing broad way appears harsh point isolated problem pertaining europe please feel singled scrutiny pressure var measure risk continues grow fast pace hardly make progress pervasive attitude let knock stuff one time ted oliver gaylard 06 26 2000 08 34 david port market risk corp enron enron cc chris abel hou ect ect michael e moscoso hou ect ect david wall risk mgmt lon ect ect ted murphy hou ect ect subject var credit trading var engine credit trading built research london intended var run daily soon produced signed oliver david port enron 26 06 2000 14 24 chris abel hou ect ect cc michael e moscoso hou ect ect david wall risk mgmt lon ect ect oliver gaylard lon ect ect ted murphy hou ect ect subject var credit trading view prove insignificant calculating every day board approved limit dp chris abel ect 06 23 2000 07 41 david port market risk corp enron enron cc michael e moscoso hou ect ect subject var credit trading fyi forwarded chris abel hou ect 06 23 2000 07 38 mary thambiah 06 23 2000 03 29 chris abel hou ect ect cc david wall risk mgmt lon ect ect subject var credit trading hi chris talked david yesterday think risk significant enough start calculating var number however queries feel free give call rgds mary