Just a few observations:
The main problem with Enron is that it has never produced much of anything in the way of either goods or services; it has not added a single widget to the world widget supply. Enron is in the business of "financializing," making markets, trading in wholesale electricity, water, data storage, fiber optics - just about anything.
Molly therefore is an adherent of the "labor theory of value" - a preposterous notion which not only places Molly firmly in the Marxist camp, but which also places all Marxists in the Flat Earth Society.
Like Long Term Capital Management, the hedge fund that went awry, it seemed to have only a parasitic relationship to actual economic activity.
This kind of Stalinist rhetoric is laughable. Why doesn't she just make an outright call for the abolition of banks and money?
Enron started as a gas pipeline company that went into trading natural gas, and even then the company's critics claimed that Enron was making profits by stoking volatility in gas prices. The same charge showed up again in spades with the newly deregulated electricity markets.
Hmmm . . . "stoking volatility". Let's have a little experiment, shall we? Now that Enron is bankrupt, let's check up on the gas and electric commodity markets a year from now and see if volatility has been eliminated from them. Let's also check up on the same market data from the years preceding Enron's debut as a commodities market maker and see if volatility was lacking in those days.
I can't believe that this passes for economic analysis among hundreds of thousands of this country's most well-to-do morons.
You presume that Miss Molly has an abiding interest in being correct.
You would be wrong.
Miss Molly has an abiding interest only in being clever. And in bashing conservatives while she's being "clever".
Like Maureen Dowd, it makes for thin gruel...