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Strategies & Market Trends : IPPs and Merchant Energy Co.s
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To: Larry S. who wrote (1675)3/27/2003 9:09:52 AM
From: jim_p  Read Replies (2) of 3358
 
We all know that FERC reports to Congress and politics played a heavy roll yesterday.

Someone had to be the scapegoat to try to smooth some feathers with CA, and it looks like the most damaging thing they could find with enough data to fill several million floppy disks with over a trillion bits of data were three trades where RRI was on the other side of a trade that they derived no benefit from with BP.

If you add up yesterdays 3.3B, plus .5B, plus EP's 1.7B, plus the other settlements already agreed to and a few disgorged profits to follow, you're pretty damn close to CA demand for 9B. Hummmmm!!!

I don't believe laws were broken, and most rational people know that traders make most of their money by commissions. Many of them made more money they the CEO's of the fortune 500 companies they worked for that year. Set up the rules and let a good trader go and he/she will find a way to make a profit. That's what their paid to do!! I'll have to admit I'd do the same thing. CA set the rules and needs to share in the blame.

I suspect this will provide one last buying opportunity before the refi gets done.

I suspect the refi will be delayed for the outcome of the hearing on the trading license.

The odds of them losing their license for any extended period of time are very slim.

Looks like the roller coaster ride continues for another 21 days. Who will puke first???

Strap yourself in tight.

If making money was easy everyone would be rich!!
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