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Non-Tech : The ENRON Scandal
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To: Mephisto who started this subject2/18/2002 12:19:29 PM
From: TigerPaw  Read Replies (2) of 5185
 
Enron picked on the wrong guy when they made Gray Davis' state their lead target in the energy extortion scheme. By going to new suppliers he saved other states from the same fate. Without extortion, Enron had no business plan.

But if the California crisis helped make Enron rich, it also helped break the company. It caused federal regulators to step in last June and impose strict around-the-clock price controls on the Western market.

"That immediately ended their ability to be profitable," said Tyson Slocum, energy analyst with Public Citizen. "And you can draw a straight timeline from June 19th to today and you can see the demise of Enron take place over that time period."
TP
cbsnews.com
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