re: #291 LudwigVanQuixote

This part of why the GOP deregulated.

It is noteworthy that Enron was brought down by an old fashioned semi-socialist Public Utility District. Enron was raping the entire West Coast so bad towards the end of Clinton’s second term that he instituted price caps, which Bush rescinded the second he took office. In Washington State the degree of privatization was determined at the local level, and those commies at the Snohomish County PUD determined that actual fraud had occurred and that they couldn’t in good conscience ask their ratepayers to cover it. t They refused to pay Enron and pulled the entire house of cards down. Fed regulators determined that Snohomish owed Enron nothing for the broken contracts, but the bankruptcy judge ordered binding arbitration. In the end Enron and Snohomish settled for 10 cents on the contract dollar.