Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Oblomov who wrote (11914)	12/17/2001 11:16:46 AM
From: portage	Read Replies (1) of 74559

I suppose nothing's wrong with it if you're one of the insiders who walked away with hundreds of millions based on inside knowledge of what was going on. It was a great system for them. How is this and the hundreds of millions that will be squandered on resulting lawsuits better than a reasonable regulatory control system that wouldn't have allowed these abuses to be spawned ? And the fallout effect now hitting about every other energy provider ? Enron said, "we're smarter than you, trust us, leave us alone, this will work". Thousands of bagholders and millions of consumers burned by the system that Enron lobbied for and perpetuated will tell you what was wrong with it. I'll buy into complete deregulation on the day that corporations wouldn't freely dump their toxics in the rivers nor game the electrical system nor cook their books if they didn't have the regulatory system there, however imperfect, keeping their feet to the fire. Just suing them after the fact isn't good enough, by then the damage is done.

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