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| zoomzone, cat adoption, product, hire, suzuki, train & automobile phones, conditions, gary moore fat boy letras, britpop, queer artists, pet toys, royaltyfree productions, surfboards, cat8, big bad baz, pics, bag heavy stand tko, rs, brown, | 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. Yet nuclear history California began complaining to FERC as early as May of 1999 that the big energy companies were manipulating the market for billions of dollars. The regulators did nothing. Where were Lay and President Bush and their energy industry fellows while California and its citizens were nuclear history being looted? Blaming the victims, of course: Bush nuclear history 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. |
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| The beauty of this con, the company's memos noted, is that "Enron gets paid for moving energy to relieve congestion without pet toys actually moving any energy or relieving any congestion." It's the sort of protection deal that would make Tony Soprano proud. "Fat Boy": This scam (aka "Inc-ing") also involved overscheduling power transmission -- for example, to a company subsidiary that didn't really need all of it. Then Enron would sell the "excess" pet toys power to the state at a premium. "Ricochet": Also called "megawatt laundering" (by analogy pet toys 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 get the general idea: the only "invisible hand" in this pseudo-free market -- heavily promoted by Enron and its lobbyist allies -- was Enron's. |
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