Posted on 01/12/2002 9:35:48 AM PST by vmatt
That's my recollection, as well. In which case, many existing regulations, designed to address conventional generation and transmission issues, may have been wholly inappropriate to energy trading.
For example, perhaps, a generator couldn't make commitments that required construction of a new plant and issuing stock to finance the venture without being a DOE review of the market and the pricing/financing schedules. The electric utilities are closely regulated, remember.
But when a trading company sells electricity to a customer for future delivery, it's planning to buy that same electricity from another supplier. They're not in the business of generating electricity or building plants, they're in the business of "making a market" for existing generators.
Thus, stock issued in this context would not necessarily require prior approval by the DOE. A waiver would make perfectly good sense.
What if DOE is charged with a minimum standard of financial suitability before granting waivers and for some unknown reason they didn't check? Or they checked and were told to ignore the data?
I've no idea whether it is the explanation, though. I pinged somebody who knows more about these regulatory matters than me. Perhaps he can answer our question.
Where were you for the scandal a week, most corrupt administration in history, treasonous corruption of the xlinton years.
Bump for this AND for the observation that maybe Bush's reluctance to clear out Clinton appointees wasn't as ill-advised as we first thought.
I believe that's a prima facia case of bipolar disorder.
I think the pardon reference may be an allusion to a previous President with the implication that if the Democrats open up the Enron can of worms, the administration will open up a pardon can of worms that they had previously sealed up.
The possibility of the human impact being considerably reduced had this been discovered by Bush appointees early on out weighs any political considerations IMHO.
Interesting take. I, of course, am of the belief that the government could not have stopped this from happening. Surely Bush's appointees would be at least as competent as any Clinton would have appointed. Perhaps they would have had the foresight to prevent the employees from losing their 401(k)'s, but not much else.
With this new information, I have developed the theory that Bush was not in a hurry to rid himself of Clinton appointees, in case there were some unexploded scandals left behind.
I would think less of Bush if that were true. Good theory though.
I have a feeling that once I post this the whole thread will reappear, making me look foolish. So be it.
Is the truth that dangerous?
Look, man, I have voted Republican several times (before 1994, of course). I'm not the enemy. What are you afraid of?
I am your countryman. I believe almost the same things you do. The differnce is that I believe in democracy and you (please excuse me) do not.
Buzzflash only highlights the mainstream stories that they find interesting. Sure they are Democrats and progressives. But they only deal in the truth, and they are very careful with their commentary. I have been a Buzzflash reader for years and I can say that they are very responsible. Unlike the corporate taken-over mainstream propaganda machine that we call TV news, Buzzflash is a breath of fresh air.
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