Enron and The Rolling Blackouts in California

[Trumplestiltskin 5,791]

For those in favor of deregulation... worth watching.

I'm in favor of free electricity. It should be a basic human right.

I'm not sure I follow you. Obviously, the production, harnessing and distribution of electricity costs money. If it was completely subsidized by the gov't. there would be no monetary incentive for energy conservation - that would be disasterous when it comes to businesses.

Of course I'm sure you realized I was joking.

Seriously...there should be rules and regulations to protect the public from abuses by corporations. As well as regulators to ensure compliance. Manipulating markets is unethical, immoral, and should be illegal. The big question is to what degree should regulation allow free markets while protecting the public.

Clearly what Enron did was not in the public interest and manipulating the market should be illegal. The crooks should go to jail and get fines provided there are laws on the books to prosecute with.

I saw what happened when the Savings and Loan industry was deregulated in the 1980's and it was a disaster for the taxpayer to the tune of $1/2 trillion to bail out failed S & L institutions looted by the crooks running them with taxpayer guaranteed assets. A lot of these creeps got off with very little punishment and some with none.

As you can see...I do not believe in 100% free markets without restraints. It has proven to be foolish public policy.

Yes, I remember the S&L scandal too. It was unfortunate for Gov. Gray Davis to have been the scapegoat for the $30 billion the power shortages cost the state of California. The recall petition would have never succeeded without it.

Davis sacking unfortunate? I thought he was thoroughly corrupt...? Of course that Crusader against Special Interests Arnold "10 Hummers" Schwarzenegger isn't much better.

[one...two...tree 2,762]

For those in favor of deregulation... worth watching.

I'm in favor of free electricity. It should be a basic human right.

I'm not sure I follow you. Obviously, the production, harnessing and distribution of electricity costs money. If it was completely subsidized by the gov't. there would be no monetary incentive for energy conservation - that would be disasterous when it comes to businesses.

Of course I'm sure you realized I was joking.

Seriously...there should be rules and regulations to protect the public from abuses by corporations. As well as regulators to ensure compliance. Manipulating markets is unethical, immoral, and should be illegal. The big question is to what degree should regulation allow free markets while protecting the public.

Clearly what Enron did was not in the public interest and manipulating the market should be illegal. The crooks should go to jail and get fines provided there are laws on the books to prosecute with.

I saw what happened when the Savings and Loan industry was deregulated in the 1980's and it was a disaster for the taxpayer to the tune of $1/2 trillion to bail out failed S & L institutions looted by the crooks running them with taxpayer guaranteed assets. A lot of these creeps got off with very little punishment and some with none.

As you can see...I do not believe in 100% free markets without restraints. It has proven to be foolish public policy.

Yes, I remember the S&L scandal too. It was unfortunate for Gov. Gray Davis to have been the scapegoat for the $30 billion the power shortages cost the state of California. The recall petition would have never succeeded without it.

Davis sacking unfortunate? I thought he was thoroughly corrupt...? Of course that Crusader against Special Interests Arnold "10 Hummers" Schwarzenegger isn't much better.

From what I recall, it was some hooligan from San Diego who started the recall petition (he'd started one during Davis' first election). The guy was a former car thief who grew up into a conservative Republican. The energy crisis wasn't Davis' fault, but it happened on his watch so he got the axe. He was never a passionate speaker like a Guiliani so he failed at fighting back in the court of public opinion. He was for all intensive purposes a conservative Democrat - but at the time, if you weren't Republican, you were too liberal for some. Interestingly, Schwarzanegger ran as a Republican, but he's not a conservative by many standards.