What this means is, L.A. could buy and sell power on its terms, engage in long-term contracts to keep the price of energy stable, and not abide by the strict rules that everyone else had to abide by.
While a mayor does have the obligation to protect his people, he also has the obligation of protecting his taxpayers. The people of L.A. are going to have to pay in the form of higher taxes for the Davis fiasco, partially caused by Riordan. And, California has never renigged on it's obligations to pay, so not extending the credit as had been done in the past is just b.s.
Riordan has, time and time again, proven that he loves Los Angeles, but hates the rest of California.
And, to the person who said Riordan is Catholic, he's sure not practicing ... he opposed Prop. 22, he is pro-abortion, and he supported the homosexual rights bill AB 25.