P.S. to F.Y.T. PG&E

· Edgewise, Paleoblogs, White-Collar Crime

“The new team” now running Enron, according to spokesman Harlan Loeb, believes a proposed settlement with federal regulators that would prevent disclosure of evidence that reveal how Enron gamed the energy trading markets during the California energy crisis, is “the best deal for creditors.” The audiotapes, email, and other documents detail how Enron’s energy traders deliberately withheld power supplies to inflate prices; the state ended up plunged in debt after a season of power shortages and utility company bankruptcies….(from Mark A. Stein in the Saturday NYTimes)