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Strategies & Market Trends : Scam Sniffing, Ball Busting Vigilantes -- Ignore unavailable to you. Want to Upgrade?

To: kodiak_bull who wrote (212)	2/4/2002 3:29:53 PM
From: Raymond Duray	Respond to of 292

KB, As always, it's a delight to bask in your obvious erudition and substantial worldliness. Senator Barbara Boxer is not the one to watch. Sen. Feinstein is going to be much more effective at ferreting out the devils in the details of End Run's arcana chicanery. Ms. Boxer's constituency is the soccer mom, the granola crowd and the usual bleeding heart liberal ghettoes. As such, I can relate much more easily to Dianne's basic humanity and general honesty (call for the Stinson Beach rip-rap story), and financial savvy. She's run a budget, she's run the best cat-herding city in the nation. And she's got a big clue. (Plus a really smart hubby.) The intersection of Barbara Boxer and my paths is terribly limited. For years, my standard assault on her was that "she never met a spending bill she didn't like". I'm a social liberal, a tolerant guy. But I do want government to live within its means. As to the myriad ties that Boxer assert that lead from Enron's Houston HQ directly to the White House with tentacles at FERC, CFTC, DoE, DoC, DoD etc., etc. it is simply irrefutable. The information is readily available, Fritz Hollings listed six people among the Bushistas who were either employed by End Run, received compensation from Enron or held Enron stock. Enron and the Bush Administration are joined at the hip. This is irrefutable. As to the manipulation of the California energy market and the abuse of market power by ENE among others, again, I consider the facts to be irrrefutable. There is a vast information source on the remarkable fleecing of the State of California by the energy traders on this thread: Subject 50623 Re: If only Bill Clinton were still in office, if only Al Gore had won the election, this would never have come to pass. Silly, really. I disagree, the demise of Enron was inevitable well before the Bush team came in. What is enronic is that the Bush team actually accelerated the destruction of Enron. How? By stonewalling the representatives of California in the early days, the Bush/Cheney team made certain that California paid for its failure to vote correctly. It was punished by the vindictive Bushistas, in a classic "cash and carry" Enron government swindle. Bush opened the floodgates for what had been a simmering energy "crisis" in California and allowed the fraud to get to full boil. Think about this: California's electricity bill in 1999 was $7 Billion. In 2000, $27 Billion In 2001, 27.7 Billion (all figures approximate) The proximate cause of Enron's implosion, I will assert, was the FERC decision on price caps dated June 19, 2001. In response to the screams for relief from California Republican businessmen, the Bushistas finally concluded it had give California enough of "a good sweating". Immediately thereafter, the prices in the spot and forwards markets in the Western wholesale market collapsed to reasonable levels. Earlier, the Enron traders, full of their own Kool-Aid, had taken OTC swap positions based on the idea that the Bush team would never allow FERC to reregulate prices and had tremendous bets on the wrong side of collapsed futures markets. Aside from all the accountancy fraud, Enron, in the end, proved to be shitty traders. BTW, if Barbara is relying on me for her arguments and information, this country is in serious trouble. My sterling credentials as an Alfred E. Newman look-alike are secure. -Ray Copyright - Lunatic Fringe(SM) 2002

To: kodiak_bull who wrote (212)	2/5/2002 12:19:35 AM
From: Raymond Duray	Respond to of 292

BPA Announces Proposed Rate Hike - BPA has too much power This one is particularly galling. Due to the predatory market manipulations by Enron and the other under-regulated energy traders, the Bonneville Power Administration now has a surplus. Readers may be aware that BPA raised its wholesale electrical rate by 46% last October 1 because of a shortfall in generating capacity. Now they got too much so they gotta raise the price again. The Red Queen and Alice never had it so good. "We must run faster and faster, in order to stay in place." Who knew that deregulation would lead to insanity?