Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: portage who wrote (97125)	4/22/2001 10:04:03 AM
From: flatsville	Read Replies (1) \| Respond to of 436258

I read about the charges leveled against El Paso Gas several weeks ago but haven't been following the story. Sounds like the state has a case to me. I hope those bastards get it good. You'll love this-- orlandosentinel.com >>>Enron says its trading system, particularly the online exchange, has resulted in fairer and more efficient markets. The allegations of market abuse are "just some sour grapes from people who didn`t come up with the idea in the first place," said Enron spokesman Eric Thode. Whatever the energy traders are doing, it`s not closely monitored by government regulators. In 1993, the trading of energy products received an exemption from oversight by the Commodity Futures Trading Commission, a federal agency that oversees commodity and options trading to protect markets from fraud and manipulation. Energy is the only commodity that has received a blanket CFTC exemption. The exemption was shepherded beginning in 1992 by then-CFTC Chairwoman Wendy Gramm, wife of Texas Sen. Phil Gramm. She left the CFTC three months before the exemption received final approval in 1993. That same year, she joined the Enron board of directors, a post that last year earned her $50,000.<<< I always wondered why...now I know. W. and his pals may soon find out that running a country is not the same thing as running a corporation. Dumbya's ENE buddies may soon find out that running a company exposed to a dereged market ain't the same thing as the big juicy rip off they hoped for. The company admitted that bankrupt PCG owes them $570 million. Both the company's CEO and Chairman, Skilling and Lay, have indicated several times that whatever happens in California will have no impact on earnings, and they can still make a good profit from those businesses. Maybe they're right, but ENE getting its' ass kicked on a variety of fronts. DUK went into CA with a little different approach on how to make money off the situation and has done quite well with less overall exposure to the bankruptcy. The stock prices speak for themselves-- quote.yahoo.com