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  • Enron

    Well, I hope these particular bastards lost their life savings when Enron stock crashed.

    I don't know how old Arnie is doing over in Cali (no news is good news?), but his "settlement" of the public lawsuits for pennies on the dollar is looking pretty dumb right now.

    http://www.cbsnews.com/stories/2004/...in620626.shtml

    Enron Traders Caught On Tape
    LOS ANGELES, June 1, 2004


    When a forest fire shut down a major transmission line into California, cutting power supplies and raising prices, Enron energy traders celebrated, CBS News Correspondent Vince Gonzales reports.

    "Burn, baby, burn. That's a beautiful thing," a trader sang about the massive fire.

    Four years after California's disastrous experiment with energy deregulation, Enron energy traders can be heard – on audiotapes obtained by CBS News – gloating and praising each other as they helped bring on, and cash-in on, the Western power crisis.

    "He just f---s California," says one Enron employee. "He steals money from California to the tune of about a million."

    "Will you rephrase that?" asks a second employee.

    "OK, he, um, he arbitrages the California market to the tune of a million bucks or two a day," replies the first.

    The tapes, from Enron's West Coast trading desk, also confirm what CBS reported years ago: that in secret deals with power producers, traders deliberately drove up prices by ordering power plants shut down.

    "If you took down the steamer, how long would it take to get it back up?" an Enron worker is heard saying.

    "Oh, it's not something you want to just be turning on and off every hour. Let's put it that way," another says.

    "Well, why don't you just go ahead and shut her down."

    Tonight's Evening News will have more of the shocking Enron tapes, plus the outraged reaction from Capitol Hill.
    Officials with the Snohomish Public Utility District near Seattle received the tapes from the Justice Department.

    "This is the evidence we've all been waiting for. This proves they manipulated the market," said Eric Christensen, a spokesman for the utility.

    That utility, like many others, is trying to get its money back from Enron.

    "They're f------g taking all the money back from you guys?" complains an Enron employee on the tapes. "All the money you guys stole from those poor grandmothers in California?"

    "Yeah, grandma Millie, man"

    "Yeah, now she wants her f------g money back for all the power you've charged right up, jammed right up her a------ for f------g $250 a megawatt hour."

    And the tapes appear to link top Enron officials Ken Lay and Jeffrey Skilling to schemes that fueled the crisis.

    "Government Affairs has to prove how valuable it is to Ken Lay and Jeff Skilling," says one trader.

    "Ok."

    "Do you know when you started over-scheduling load and making buckets of money on that?

    Before the 2000 election, Enron employees pondered the possibilities of a Bush win.

    "It'd be great. I'd love to see Ken Lay Secretary of Energy," says one Enron worker.

    That didn't happen, but they were sure President Bush would fight any limits on sky-high energy prices.

    "When this election comes Bush will f------g whack this s--t, man. He won't play this price-cap b------t."

    Crude, but true.

    "We will not take any action that makes California's problems worse and that's why I oppose price caps," said Mr. Bush on May 29, 2001.

    Both the Justice Department and Enron tried to prevent the release of these tapes. Enron's lawyers argued they merely prove "that people at Enron sometimes talked like Barnacle Bill the Sailor."
    "Experience should teach us to be most on our guard to protect liberty when the government’s purposes are beneficent. Men born to freedom are naturally alert to repel invasion of their liberty by evil-minded rulers. The greatest dangers to liberty lurk in insidious encroachment by men of zeal, well-meaning but without understanding."

    – Associate Justice Louis D. Brandeis, Olmstead vs. United States.

  • #2
    Well...Arnold was picked for, bankrolled and supported for his bid in the takeover...err "recall election" by Lay, for precisely this reason - to settle this thing on the cheap and leave Lay and his thieving cronies off the hook for future prosecutions by the State of California.

    Of course, the "liberal" media never tells you this stuff in a timely fashion, because they are too busy being enraptured by the cult of personality that infects this nation.
    I have no problem at all with being proved wrong. Especially when being proved wrong leaves the world a better place, than being proved right...

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    • #3
      But that's much too logical James. It must be a left-wing conspiracy theory.
      "Experience should teach us to be most on our guard to protect liberty when the government’s purposes are beneficent. Men born to freedom are naturally alert to repel invasion of their liberty by evil-minded rulers. The greatest dangers to liberty lurk in insidious encroachment by men of zeal, well-meaning but without understanding."

      – Associate Justice Louis D. Brandeis, Olmstead vs. United States.

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