[Ernest_at_the_Beach]

And Dan weighs in with some good observations!

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[Dog Gone]

Walters actually lets Davis off easy. The mistakes Davis made have been well-chronicled here at FR.

[Amerigomag]

And Dan weighs in with some good observations!

Walters would have had to step over an elephant to avoid his observations.

Walter's first observation: The FERC report noted that an "underlying supply-demand imbalance and flawed market design combined to make a fertile environment for market manipulation." was a nobrainer since it was the the first cause listed in the report summary.

Anybody who feels that the FERC primarily blamed the power regulators simply didn't read the report.

The report was a scathing critisim of California's regulatory process.