Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: NOW who wrote (18069)	4/11/2002 4:17:03 AM
From: Raymond Duray	Read Replies (1) of 74559

davidd, Re: Why do they Hate America so? Maybe it's the dishonesty? nytimes.com <Snip> In the middle of 2000, on the eve of the California energy crisis, Enron (news/quote) was making increasingly large bets that electricity prices in the state would increase, according to Enron records cited by a California state senator leading an investigation into the state's power crisis. The state senator, Joseph Dunn, is scheduled to testify Thursday in Washington before a United States Senate Commerce Committee hearing that will examine whether Enron manipulated power prices in California in 2000 and 2001, contributing to a surge in electricity prices that pushed California into a fiscal crisis. Soon after the crisis began, California officials began accusing Enron and other energy companies of artificially causing shortages. <End Snip> What do you think? A culture of corruption and cheating at the heart of American capitalism that is making many thinking people sick of the entire culture? Could that be it? -Ray

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