debt trading losses sally brent gary meeting bryan jeff gary markus monday november 20 th showed bryan copy monthly price verification procedures book administrator price verification comparison spreadsheet also showed brent information later day leave left therefore find bryan operations bullet wrong misleading statement made agreed monday met statement also consistent actually attachment receive copy price verifcation spreadsheet last six months monday please call theresa questions sheila forwarded sheila glover hou ect 11 24 2000 05 14 pm bryan seyfried 11 24 2000 12 24 pm sheila glover hou ect ect cc sally beck hou ect ect brent price hou ect ect gary hickerson hou ect ect jeff kinneman hou ect ect tom doukas na enron enron theresa brogan hou ect ect subject debt trading losses ok sorry miscommunication get copies price verification memo debt book last 6 months pls sheila glover 24 11 2000 17 06 bryan seyfried lon ect ect cc sally beck hou ect ect brent price hou ect ect gary hickerson hou ect ect jeff kinneman hou ect ect tom doukas na enron enron theresa brogan hou ect ect subject debt trading losses bryan think second bullet misleading bullet reflective actually stated attached document month end price verification process credit book trader pricing compared prime broker pricing mark greater 2 points difference discussed trader trader must amend mark provide third party substantiation illiquid position price verifiaction comparison spreadsheet broker quotes filed maintained risk management operations break process relates triplets excluded monthly price verification process escalated prioritized management telewest pricing relied price prime broker manually sourced current price verification comparison results formalized distributed senior management thanks sheila forwarded sheila glover hou ect 11 24 2000 10 13 bryan seyfried 11 23 2000 01 31 richard causey corp enron enron rick buy hou ect ect john sherriff lon ect ect cc michael r brown lon ect ect fernley dyson lon ect ect sally beck hou ect ect ted murphy hou ect ect mike jordan lon ect ect david wall risk mgmt lon ect ect jeff kinneman hou ect ect gary hickerson hou ect ect sheila glover hou ect ect brent price hou ect ect richard sage lon ect ect bryan seyfried lon ect ect subject debt trading losses discovered two positions debt trading book marked market current mark 2 positions results approximately 4 7 million loss details primary control issues trader adjust price reflect effect market movements operations perform monthly price verification processes desk management failed recognize marks two trades moved term transactions ql 00 nov 15 th losses recognized full review book ongoing operations trader relieved responsibilities implement steps agreed operations ensure robust approach controls debt trading book going forward