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To: lewislynn
"This is the same Enron that the energy groupies (you know who you are) defended when because it was suggested by Gray Davis they price gouged California..."

Looking at Enron in that light brings up a few minor problems.

1. Who will you blame for "price gouging" when electricity rates skyrocket again next summer due to California's lack of power plants (since Enron won't be around to be a scapegoat any longer)?
2. Enron reported profits of only 0.6% on over $23 Billion in debt and $101 Billion in sales revenue. Most people associate real "price gougers" with slightly higher profit margins (instead of bankrupting the company via too much debt).
3. Enron's real crime was collaborating with Andersen to cook the 10-Q and 10-K audit reports. Those audits tricked investors and employees into thinking that their pension plans (which were full of Enron stock) were safe. It was their stock price, not the price of electricity, where the real fraud was perpetrated. Shifting focus away from the stock fraud by trying to save Gray Davis' from his electricity follies could very well cause the real crime to go unpunished.

19 posted on 12/08/2001 10:04:17 PM PST by Southack
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To: Southack
Has the SEC ever stepped in?
20 posted on 12/08/2001 10:06:41 PM PST by horsewhispersc
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