Federal Court Finds Enron conspired to create the California Power Crisis

To be on track here, the point is that a lot of people will do anything they think they can get away with, no matter who it hurts, in order to maximize profit. Now is the time for a vigorous prosecution of Enron and other company execs who conspired to screw everyone over. A lot of people are predicting Bush and Ashcroft will just let it go and prosecute lesser troublemakers who didn't fund their campaigns instead. We'll see.

I'd like to add that it wasn't just people in California that got jammed in the ear by Enron. BPA jacked up prices everywhere including my state (WA). Granted I never had black/brown outs, I had to live without a heater so I could afford the bill.

Yes, this hurt more than CA. OR and WA are so bad off right now - granted, it's not all to do with Enron or energy scams, but those did not help an already ailing economy. You have every right to be angry that this guy in OR was profiting off the region's distress, because it did hurt CA, OR and WA, and probably others.

I'm surprised that none of this hasn't resulted in more intesive searches for energy.

We already have it - solar power is available, cheap, and you can even sell your excess to the power company and end up with virtually free electricity, and sometimes even a credit. The problem is: why aren't more people aware of this? Why aren't the 8 billions homes being built all over the place having solar panels installed for as little as $2000?

 

Let's see, first lets look at the topic of this thread.

Topic: Federal Court Finds Enron conspired to create the California Power Crisis

Now, my first impression of that topic, is that it would truely be a really big deal, if a Federal Court found Enron in that. A Finding, however, means a judgement of some part, either on a Jury or a Judges part, which is why it would be such a big deal if the above was truely accurate. I admit I had not heard that the trial date had even been set, or such.

However ,when I read the article that Kessel Runner used to back up this topic

Key Enron trader pleads guilty to conspiracy

This does not come anywhere close to a finding that Enron as a company conspired. While I believe in the end that the truth will come out, and that Enron will be found guilty on some charges, this story does not come anywhere close to backing up what Kessel Runner wants it to be.

Add to it the political slant that Kessel Runner adds to it and it almost makes it a bad joke when you look at it.

A couple of other things that need to be cleared up regarding Enron.

1) From 1997 to early year 2000, California residents paid some of the lowest prices in the country for energy, so to claim the California Residents were the complete tragic victims of this is innaccurate.

2) The reason that the Senate has stopped probing Enron....because things now appear that former Clinton Treasurey Secretary Robert Rubin, who became CFO at CitiGroup Financial Services, one of the biggest credit houses in the world, illegally contacted regulators and creditors at the Treasurey Department to give Enron fraudulent Bond Ratings to keep it's credit up.

As a result of #2, Enron hearings are over for now. When pressed, Joe Liebermann (A democrat that I highly admire and respect) refused to answer, save that Robert Rubin will not be subpoenaed.

Add to it, that when Enron tried to get the Bush Administration to prop up it's credit ratings again and the Bush Administration refused....well, it seems this is more egg on the Democrats then on Republicans.