Ms. Holahan, the Treasury spokeswoman, stressed that no airline would be forced into bankruptcy because the board was not yet ready.

And no such proposal has been made," a Treasury spokeswoman said last night.

No government official outside of the foreign assets control office played any role in the decision to grant the licenses to Enron, the Treasury spokeswoman said.

Mr. Fisher was not available for comment on this or other issues, a Treasury spokeswoman said.

A Treasury spokeswoman said the government was "keen to support social investment and is demonstrating this commitment through a range of measures."

A Treasury spokeswoman said officials there had not seen Mr. Greenspan's letter.

Regarding the $700 billion number, Forbes.com quoted a Treasury spokeswoman: "It's not based on any particular data point.

A Treasury spokeswoman confirmed that the intervention had been coordinated with the United States.

A Treasury spokeswoman declined to comment yesterday on the department's intentions.

"We're reviewing it and have not made a decision on how to proceed," Michelle Smith, a Treasury spokeswoman, said late today.