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Pastimes : The California Energy Crisis - Information & Forum -- Ignore unavailable to you. Want to Upgrade?

To: Father Terrence who wrote (431)	6/11/2001 2:09:03 PM
From: Raymond Duray	Read Replies (1) \| Respond to of 1715

Hi Terrence, IMO, when Governor Gray Davis began threatening "confiscation" of electrical producers a few months back he crossed the line and plunged pell-mell into the dark realms of an anti-constitutional, socialistic wonderland. In a word, I find your views poppycock. <smile> The government of this country and all individual states have the obligation to muzzle markets when they are out of control. Famously, one of Abraham Lincoln's greatest nemesis during the Civil War was the rampant speculator class operating not far from that Buttonwood tree that metastasized into the NYSE. In WWII, energy markets were strictly controlled by government mandate and price gougers were summarily dealt with. Even as late as the Nixon administration, price caps were necessary to control the out-sized greed of the energy industry. If you don't think that the behaviour of the energy traders in California is a disgraceful example of capitalism run amok, then there simply is no basis for a conversation here. Cordially, Ray :)