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Politics : PRESIDENT GEORGE W. BUSH

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To: Lazarus_Long who wrote (294062)9/7/2002 11:56:01 AM
From: TigerPaw  Read Replies (1) of 769667
 
Buying energy from energy companies at horribly inflated prices DOES NOT make them poor; it makes them even richer! Which is exactly what happened.


Pehaps you should look up the definition of bankrupt. That's what happened to the traders. The price of energy is something that can be dealt with if there really is energy. The extortion scheme consisted of charging lots of money for vapor, for not delivering energy, for nothing. California would never be able to buy all the nothing they were selling so they could get to the energy. Davis saved the state, and he will renegotiate the long term contracts and get major refunds.
TP
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