BS: Lay and Skilling- Guilty

Subject: RE: BS: Lay and Skilling- Guilty
From: Ebbie
Date: 04 Jun 06 - 01:50 PM

LOL

Subject: RE: BS: Lay and Skilling- Guilty
From: robomatic
Date: 04 Jun 06 - 03:06 PM

An oldie but a goodie (the joke, that is).

That business with the California energy crisis was a con job on many levels, including the people of California conning themselves. For a state controlled regulating agency to willingly sell off their own sources of power generation, then expose themselves to the chance of uncontrolled energy cost inflation overtopping restricted ability to charge for power at the receiving end never made sense when you understand the huge part of our national economy that is tied into the energy industry. There are people supposedly working for the government whose entire jobs are concerned with managing risk.

Would you sign a contract that says you are responsible for the price of your components but you can't pass that along to your customers?

I've caught several different rumors such as much political hay being made in the State government, and whether or not PG&E (Pacific Gas & Electric, a huge enterprise) covered their end by claiming poverty while their assets were protected in a covering shell corporation. I've never seen a clear explanation of what happened and why, but the fact that Enron was a 'bad actor' in this case doesn't let off the State of California regulation agencies for being 'bad protectors'.

Subject: RE: BS: Lay and Skilling- Guilty
From: pdq
Date: 04 Jun 06 - 03:32 PM

BTW, I understand he was also allowed a Federal tax deduction of $900 for the dead donkey but I can't confirm that.

robomatic...If you want to study the energy crisis, please start by Googling 'Steve Peace, 1995" or something similar. Peace was an El Cajon Democrat who wrote the regulation legislation. The bill mandated that PG&E divest most of it's electricity production assets. In 1995, PG&E produced 49% of it's own electricity. By the energy crisis, that stood at a puny 7%. This was not voluntary.

Co-generation plants that used 15-30% farm waste in lieu of natural gas were ordered closed. Any Environmentalists want to take on this one?

Steve Peace was rewarded by being chosen California's Direct of the Budget by Gray Davis.

Subject: RE: BS: Lay and Skilling- Guilty
From: pdq
Date: 04 Jun 06 - 04:08 PM

...this is from the Sacrament Bee...Ken Lay is mentioned...

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Special Report: Energy crisis built steam as officials mishandled it

Link provided to replace the cut and paste. Please provide links instead of these large cut 'n' paste articles. Thanks.

Subject: RE: BS: Lay and Skilling- Guilty
From: kendall
Date: 05 Jun 06 - 05:12 AM

Art, my friend, no one has ever been jailed for stealing a loaf of bread. A three time loser can be jailed for his third offense, but he will be jailed for being a "career criminal". I see a world of difference.
As the Bible says "Keep your clam clutchers" off other people's stuff.

Subject: RE: BS: Lay and Skilling- Guilty
From: GUEST
Date: 05 Jun 06 - 04:56 PM

Agreed Kendall