Enron's plunge continues

washington: bankruptcy loomed large over energy giant enron as two senior us lawmakers called for a hearing on the likely collapse of the company as its stock plunged from 61 cents on wednesday to 36 cents at thursday's close after dynegy declined to take over the ailing company. the enron shares were valued at staggering $90.56 at its peak 15 months ago.majority leader in the us senate tom daschle called for a hearing on the impact of enron's expected bankruptcy, and in the house of representativ congressman billy tauzin, chairman of the house energy and commerce committee, announced hearings. "we are very interested in how the company handled its internal books," a spokesman for tauzin said. he added that the committee's general counsel has been directed to investigate the circumstances leading up to the collapse. jay westbrook, a bankruptcy expert and professor at the university of texas school of law, said that an enron bankruptcy would be massive and complex but a smart move for it. "i would assume it would lead to the sale of the company, which was coming anyway. bankruptcy provides a lot of protections that makes it easier to do, and it buys time to find out what this company is really worth. that was dynegy's problem, trying to figure out what the company was worth," westbrook said. dynegy head chuck watson said that his company would acquire enron's northern natural gas pipeline in exchange for the $1.5 billion part-dynegy owned chevrontexaco pumped into enron.