Guest Posted June 4, 2004 Report Share Posted June 4, 2004 Transcripts: Market Manipulation Was Sport By KRISTEN HAYS HOUSTON (AP) - Enron traders openly discussed manipulating California's power market during profanity-laced telephone conversations in which they merrily gloated about ripping off ''those poor grandmothers'' during the state's energy crunch in 2000-01, according to transcripts of the calls. The calls were obtained from the government and transcribed by a public utility district near Seattle that wants Enron to forfeit millions of dollars in ill-gotten gains over the energy trading scandal. Investigators say the transcripts paint an even more sordid picture of the way Enron allegedly ruthlessly rigged the market at a time of widespread blackouts and soaring electricity rates in California. The transcripts also shed light on discussions that are central to the Justice Department's investigation of Enron's trading practices. ''It shows unbridled drive for profit,'' said San Diego attorney Michael Aguirre . . . Link to comment Share on other sites More sharing options...
Isle of View Posted June 4, 2004 Report Share Posted June 4, 2004 Yes, but do modern psychopaths act like corporations? Link to comment Share on other sites More sharing options...
Isle of View Posted June 4, 2004 Report Share Posted June 4, 2004 Transcripts: Market Manipulation Was SportBy KRISTEN HAYS HOUSTON (AP) - Enron traders openly discussed manipulating California's power market during profanity-laced telephone conversations in which they merrily gloated about ripping off ''those poor grandmothers'' during the state's energy crunch in 2000-01, according to transcripts of the calls. The calls were obtained from the government and transcribed by a public utility district near Seattle that wants Enron to forfeit millions of dollars in ill-gotten gains over the energy trading scandal. Investigators say the transcripts paint an even more sordid picture of the way Enron allegedly ruthlessly rigged the market at a time of widespread blackouts and soaring electricity rates in California. The transcripts also shed light on discussions that are central to the Justice Department's investigation of Enron's trading practices. ''It shows unbridled drive for profit,'' said San Diego attorney Michael Aguirre . . . I wonder what aspect of the "deregulated" system as it was set-up made such behaviour possible and/or encouraged it? Did only a few companies have a quasi-mononpoly? There was clearly no transparency. If any deaths can be directly attributed to the power outages then those traders shouold be charged with premeditated murder. Btw, where's Kenny? Link to comment Share on other sites More sharing options...
DrStool Posted June 4, 2004 Report Share Posted June 4, 2004 We live in the unnaccountable society. The criminals are the majority. The majority rules. The only law is the law of the enforcer. Link to comment Share on other sites More sharing options...
DrStool Posted June 4, 2004 Report Share Posted June 4, 2004 Testing, Testing One Two, Two Two Your Golden Stool, including short and long term updated charts and price targets, is loaded. Even if you are not a goldbug, you should check out the Golden Stool. It's in your Anals daily. Take a subscribatory and download the Golden Stool RIGHT NOW! 30 Day Intro Subscribatory. Just $16.99! Get In RIGHT NOW! Link to comment Share on other sites More sharing options...
Idumpdaily Posted June 4, 2004 Report Share Posted June 4, 2004 The matrix is really pushing these numbers Link to comment Share on other sites More sharing options...
GregFokker Posted June 4, 2004 Report Share Posted June 4, 2004 We live in the unnaccountable society. The criminals are the majority. The majority rules. The only law is the law of the enforcer. "Greed is good, greed works..." That's the attitude that's been drummed in at all levels of our culture- how can our collectivity object when it becomes ugly? Whattamess. Link to comment Share on other sites More sharing options...
GregFokker Posted June 4, 2004 Report Share Posted June 4, 2004 Dow fukustures hitting new highs. Gold sucking de_pipe. Link to comment Share on other sites More sharing options...
DrStool Posted June 4, 2004 Report Share Posted June 4, 2004 New high on the one year Treasury 1.90. That means that ARM's with a 2% teaser start rate last year now have a market rate of 4.50-4.75. Most have a 2% adjustment cap. Those 2% ARM's will adjust to 4% this July and August. Link to comment Share on other sites More sharing options...
Guest Posted June 4, 2004 Report Share Posted June 4, 2004 uncle buck can't get it up gold fine probably reversal day on the dow a growing number of people may be seeing through these ficticious numbers Link to comment Share on other sites More sharing options...
The brown one Posted June 4, 2004 Report Share Posted June 4, 2004 We live in the unnaccountable society. The criminals are the majority. The majority rules. The only law is the law of the enforcer. "Greed is good, greed works..." That's the attitude that's been drummed in at all levels of our culture- how can our collectivity object when it becomes ugly? Whattamess. All so very true--but does it get better--nope,I think it only gets worse. Why is this in a "democracy"--it's because the criminals are the majority. QED Link to comment Share on other sites More sharing options...
DrStool Posted June 4, 2004 Report Share Posted June 4, 2004 Dollar kneejerk was straight up for two minutes, but then got pounded below yesterday's lows. Bonds sold off then rallied. Yield now down to 4.69. Weird. Link to comment Share on other sites More sharing options...
Guest Posted June 4, 2004 Report Share Posted June 4, 2004 Transcripts: Market Manipulation Was SportBy KRISTEN HAYS HOUSTON (AP) - Enron traders openly discussed manipulating California's power market during profanity-laced telephone conversations in which they merrily gloated about ripping off ''those poor grandmothers'' during the state's energy crunch in 2000-01, according to transcripts of the calls. The calls were obtained from the government and transcribed by a public utility district near Seattle that wants Enron to forfeit millions of dollars in ill-gotten gains over the energy trading scandal. Investigators say the transcripts paint an even more sordid picture of the way Enron allegedly ruthlessly rigged the market at a time of widespread blackouts and soaring electricity rates in California. The transcripts also shed light on discussions that are central to the Justice Department's investigation of Enron's trading practices. ''It shows unbridled drive for profit,'' said San Diego attorney Michael Aguirre . . . I wonder what aspect of the "deregulated" system as it was set-up made such behaviour possible and/or encouraged it? Did only a few companies have a quasi-mononpoly? There was clearly no transparency. 1. There was insufficient power generating capacity available to ensure healthy pressure on prices and there was insufficient competition in the wholesale market 2. There was insufficient transmission capacity to move power from where it was available to where it was needed and the regulatory structure was a bloody mess. 3. The distribution side was tightly regulated which meant that the distribution companies would inevitably go bust because they could not pass on higher wholesale prices. The whole debacle was a textbook case study in the triumph of shocking incompetence over vague dogma. Link to comment Share on other sites More sharing options...
Guest Posted June 4, 2004 Report Share Posted June 4, 2004 Ten and Thirty year yields falling? Interesting Link to comment Share on other sites More sharing options...
The brown one Posted June 4, 2004 Report Share Posted June 4, 2004 Short rates in U-Rope in take-off position? ARM in Dutch=POOR Link to comment Share on other sites More sharing options...
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