Jeff, as we talked earlier we need to get what you want ASAP because in these 
energy markets , which I think we both agree are not going to settle down any 
time soon, coupled with the growth you and Mike want to see we are operating 
under ridiculously small limits. 8 million VAR for a group our size , with 
our turnover and number of traders just doesn't work. We have 15 to 20 
million of structured deals, primarlily coming from Don S that at this time 
we would have to walk away from. We can not go out and recruit more and 
better traders to have them sit at their desk and not trade do to limits 
which in no way are reflective of the size and risk Enron should be willing 
to take if they truly have bought into this being a significant global 
business. I  suggest they should have raised them already as a reflection of 
where they want to take the business and thought this through prior to the 
move  to Global Markets. You wouldn't be handed a Model T and asked to go out 
and win the Indy 500. We need the tools to make the money and VAR is just as 
important a componenet as leadership,  people, vol limits, systems 
,reporting, etc. 
 We have shut down positions  today, which will cost us significantly, due to 
the VAR issue.  All we seem to be doing now is trading and worrying about VAR 
and NOT doing what we think is right with our positions. This definitely, 
like today, has had a negative impact on P/L.We will get a chance to visit 
this issue  with Chris and John on your visit here next week.