"Ricochet": Also called "megawatt wide pete yorn

brown, advertising, fancy dog stuff, special events, dropship, suzuki, maisto, cameras, relax, pete yorn, die cast model cars, pet boutique, occasions, fat boy knife, slowpitch, badmovies, Yet California began complaining to FERC as early as wide May of 1999 that the big energy companies were manipulating the market for billions wide of dollars. The regulators did nothing. wide Where were Lay and President Bush and their energy industry fellows while California and its citizens were being looted? Blaming the victims, of course: Bush refused to meet with California senators about the problems, and according to Sen. Barbara Boxer, his VP Dick Cheney told them, "You people use too much energy." Asked about possible market manipulation last year, Lay responded, "Every time there's a shortage or a little bit of a price spike, it's always collusion or conspiracy or something. I mean, it always makes people feel better that way." Certainly it made him and his private army of hustlers feel a whole lot better where it counts, while Californians footed the bills. And when the Houston Death Star imploded from yet other shell games, wreaking economic devastation on ordinary employees, many of the capos escaped with their shares of the staggering loot.
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"Ricochet": Also called "megawatt laundering" (by analogy to money laundering), Ricochet was the power equivalent of a real-estate land flip: buy in-state power cheaply, flip it out-of-state to an intermediary, then re-sell it to California at a highly inflated "imported" price. There were others, but you pete yorn get the general idea: the pete yorn only "invisible hand" in this pseudo-free market -- pete yorn heavily promoted by Enron and its lobbyist allies -- was Enron's. The Enron memos also say that traders from other companies (with even larger interests in the California market) were doing the same, and now the Federal Energy Regulatory Commission says it will force them to cough up the evidence.
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