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Show me the fraud, I'll help you lock them up.
Just because somebody made an asspile of money does NOT mean they committed fraud.
Personally, I live in PRK, and the reason MY electricity bills are going up is because of Grey[out] (Hey, I kept the frigging lights on) Davis and his agressive lack of business sense.
In a desperate bid to NOT be the guy at the helm when the lights went out, he signed TWENTY YEAR energy contracts at astronomical rates.
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I never said that just because someone made an asspile of money means they committed fraud.
It's already been shown that Enron manipulated that available energy by routing it in such so as to appear that there was a shortage and to gouge it's customers. Don't you finsd it the least bit ironic that the "shortage" has since completely vanished?
While it may have contributed to the problem somewhat, I think California's deregulation was just a convenient scapegoat for Enron's activities. In light of Enron's business practices, only a real sucker would continue to believe the deregulation was the prime cause for the shortage that never was. I dislike Gray as much as the next guy, but I have to agree with him the Ken Lay should be sitting in prison with a cellmate named Bubba.
As far as the guy buying power contracts, shouldn't power companies/brokers be dealing in good faith rather than manipulating the market and purposely creating panic in the markets? This is what kind of pisses me off about Enron the most. They don't produce anything or provide any real service. They are just a parasite that manipulates the system and ultimately extorts money from people like you and me.
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I guess that's what disgusts me about our local energy "problem."
You hit the nail on the head, Davis PANICKED. He couldn't stand to be the guy at the helm of the Titanic, so he signed the first thing they put in front of him.
If he would have told them to screw off, and let them turn off the lights, the public would have destroyed Enron and anyone else wanting to charge unreasonable rates. Grab a camera and explain in simple terms what they were doing, and BOOM, no more problem.
That's kinda the way a FREE MARKET works.
The PR alone would have smashed them. Companies would have been climbing over the corpse to sell Kali some power at better rates.