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MichaeltheGreat
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Apolyton Grand Executioner
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mooning the house that Ruth built.
Oct 1999 time: 21:31
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quote: Originally posted by chegitz guevara
Actually, they have their roots in the deregulation of the 1980s. Bush pulled the same stuff at Harken that Enron and all the rest got in trouble for much later. It's just that the Clinton Admin didn't do much about it, and once the Repugs took over, wasn't in a position to do anything about it. Not that this let's the Dums off the hook, since they passed the bills that Reagan and Bush wanted in the first place. |
If you want to blame gas deregulation, first, you'll have to send every natural gas customer in the US bills for more than twenty billion and explain to them that natural gas prices are now going up 60% and will be locked in at that level to undo the "mistake" of deregulaton. I'm sure that will go over well.
Then please explain how "deregulation" of natural gas purchasing created the mechanism for a "pipeline" company (whose core business is still regulated" to go into all sorts of non-gas ventures (buying utilities, attempting to corner the marker on LM6000 turbines, etc.) by making hidden arms-length transactions with undisclosed offshore affiliates?
Enron never did this stuff before, because the old management never was interested in moving out of their regulated monopoly field of being a pipeline company.
Perhaps we should have had a regulated internet, with service limited to 56k dialup for a nationwide standard price of $45.00 per month? That would have stopped that dot com nonsense. 
We already have laws against securities fraud. Deregulation (in any field) has not ever given a waiver to criminal activity, so you're gonna have to try again.
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