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by CalChris
3207 days ago
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As a Silicon Valley entrepreneur, I'm greedy, quite greedy. But Enron wasn't just greedy, it was a criminal organization. As such, people went to jail and it went out of business. The job losses at Enron were 4000 but they were 85,000 at Arthur Anderson, its accounting firm. Wilson enabled this although to be fair, he didn't foresee it. The CA energy crisis was the result of mid-90s neoliberal hubris. Like supply side voodoo economics, its lessons get quickly forgotten. Hubris is like that. |
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>Some critics, such as Arianna Huffington, alleged that Davis was lulled to inaction by campaign contributions from energy producers.[28] In addition, the California State Legislature would sometimes push Davis to act decisively by taking over power plants which were known to have been gamed and place them back under control of the utilities, ensuring a more steady supply and slapping the nose of the worst manipulators . Meanwhile, conservatives argued that Davis signed overpriced energy contracts, employed incompetent negotiators, and refused to allow prices to rise for residences statewide much like they did in San Diego, which they argue could have given Davis more leverage against the energy traders and encouraged more conservation.[29] More criticism is given in the book Conspiracy of Fools, which gives the details of a meeting between the governor and his officials; Clinton Administration Treasury officials; and energy executives, including market manipulators such as Enron, where Gray Davis disagreed with the treasury officials and energy executives<