Steve - Abdul got this instead of you, Lotus Notes freaked on me.

Abdhul  - Please disregard.  Sorry.

---------------------- Forwarded by Chris Long/Corp/Enron on 09/08/2000 09:51 
AM ---------------------------

Chris Long
09/08/2000 09:39 AM


To: Mark E Haedicke/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Abdul 
Khan/NA/AZURIX@AZURIX, Richard Shapiro/HOU/EES@EES, Cynthia 
Sandherr/Corp/Enron@ENRON, Joe Hillings/Corp/Enron@ENRON, Tom 
Briggs/NA/Enron@Enron, Lisa Yoho/HOU/EES@EES, raislerk@sullcrom.com
cc:  

Subject: CEA Update

Congress returned from its August recess with a flurry of activities on the 
CEA reauthorization.    Lee Sachs at Treasury reported that the CFTC and SEC 
have been meeting over the last several weeks and "progress is being made on 
Shad-Johnson".  An agreement on Shad -Johnson is critical to moving the 
legislation.

House staff said that the Banking Committee filed its report to the Rules 
Committee which allows the Rules Committee to begin considering which 
combination of the three versions will be sent to the full House.  ISDA, the 
Banking Coalition, and the Exchanges (in conjunction with Energy Group) are 
meeting to reconcile the differences and have met with Agriculture Committee 
Chairman Ewing to this end.  Chairman Ewing would like differences resolved 
by September 14, the Rules Committee to report HR 4541 by September 18, and 
have House Floor action by September 21.  Everyone agrees that the House 
Agriculture bill will be the basis from which Rules works.  We faired better 
in the House Commerce Committee on multilaterals and metals so we need to 
ensure that the Commerce Committee provisions are picked up by the Rules 
Committee.  We will meet with Rules Committee staff next week to advocate 
this.  Numerous staff have said that House leadership lobbying is important 
at this time to push this to the "hot list" of issues for resolution before 
Congress adjourns.

After speaking to Senator Gramm's staff, it is clear that they are waiting on 
House action.  We have presented the "all non-agriculture commodity language" 
to Senator Gramm's office, which is under consideration.  I will follow up 
with the Democratic staff this week.

What next?

I recommend we send the attached letter to the House Leadership, as well 
Chairmen of the Rules, Ag, Commerce, and Banking under Ken Lay's signature.  
In addition to DC office lobby visits, we can follow up with personal contact 
as folks from Houston are available to come to DC.

We had contemplated a senior-level Enron official phone call to Senator Gramm 
to spur action from his office, but this is still premature.  Senator Gramm's 
staff advised that this would do little to move Gramm until the House is 
closer to action.

Please call with any questions.