Enron Traders Schemed About California on Tapes

Well there you have it authoritively, if you don't live in California you don't know sh*t about the state?

So the most recent Mexican to cross over the border to live in California knows more about the state than you, me or anyone else who doesn't live in California.

:)
 
Do you even bother to read what you post here on ET, or are you just the biggest hypocrit this side of the Mississippi?

Your words, from the bottom of Page 8 of this thread:

"Wake up man, Enron did not cause the energy shortage in CA, they simply used that event to profit from it like they are paid to do. If I was an energy trader, I would have been driving the price up to the moon. And I would have enjoyed it."

Again, your words from the top of Page 14, first sentence:


06-15-04 07:36 PM

"Waggie, I never said I didn't blame Enron."

So which one is it Mav???
As usual, you show yourself to be the biggest disingenuine and hypocritical person on ET. Funny how you always seem to contradict yourself. Why am I not surprised.

:eek:
 
Quote from waggie945:

Do you even bother to read what you post here on ET, or are you just the biggest hypocrite this side of the Mississippi?

Your words, from the bottom of Page 8 of this thread:

"Wake up man, Enron did not cause the energy shortage in CA, they simply used that event to profit from it like they are paid to do. If I was an energy trader, I would have been driving the price up to the moon. And I would have enjoyed it."

Again, your words from the top of Page 14, first sentence:


06-15-04 07:36 PM

"Waggie, I never said I didn't blame Enron."

So which one is it Mav???
As usual, you show yourself to be the biggest disingenuine and hypocritical person on ET. Funny how you always seem to contradict yourself. Why am I not surprised.

:eek:
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Correct Waggie, I don't blame Enron for the actual shortage. I do blame Enron for their unethical activities. Do you follow? Your lovely state of CA created a situation for which they could be exploited and did not have the ability to deal with the situation properly. However, having said that, Enron did abuse their inside knowledge of the CA energy markets and did engage in unethical activities. You know Waggie, I'm finally starting to agree with you about the state of the CA education system as you are a byproduct of it. And it really shows man, it really shows.

Now let me guess, you are going to reply to this message attacking me again, like you always do. You are going to tell me how stupid I am or this or that. Come on Waggie. More ad hominem attacks. Come on you can do it. That's all you have in your bag. But whatever you do, don't answer any of my questions that I have asked you over and over and over again. Just attack me. Show us your true colors Waggie. Continue being the joke of ET. You know what's funny Waggie. When you and I go at each others throats. Nobody ever gets your back. Ever think about that? Never. Now why do you think that is? Don't answer, just think about it.
 
Quote from waggie945:

Now you know why ET is just a combo plate away from being a piece of used toilet paper.
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It is .. but only when you are around.
 
Quote from omcate:

Joked About Stealing From Grandmothers
By KRISTEN HAYS, Associated Press

HOUSTON (June 2) - Enron Corp. traders openly discussed manipulating the California power market and joked about stealing from grandmothers during the Western energy crisis in 2000-2001, according to transcripts of telephone calls filed with the Federal Energy Regulatory Commission.

The transcripts, some littered with profanity, were filed by a public utility district near Seattle.

The calls on the transcripts are central to the Justice Department's investigation of Enron's trading practices.

John Forney, a former top trader in Enron's defunct Western trading operation based in Portland, Ore., is slated to stand trial on charges of wire fraud and conspiracy. Two other former Portland traders, Timothy Belden and Jeffrey Richter, have pleaded guilty to one count of wire fraud and are helping prosecutors.

Energy merchants regularly tape trader conversations to keep a record of transactions.

According to the Snohomish County Public Utility District, which obtained audiotapes of trader conversations from the Justice Department and transcribed them, traders openly discussed creating congestion on transmission lines, taking generating units offline to pump up electricity prices and overall manipulation of the California power market.

For example, in one transcript a trader asks about "all the money you guys stole from those poor grandmothers of California.''

To which the Enron trader responds, "Yeah, Grandma Millie, man. But she's the one who couldn't figure out how to (expletive) vote on the butterfly ballot.''

Conversations that involve Forney, Belden and Richter appear throughout the transcripts.

In one of those transcripts, a trader says to Richter, "So, uh, somebody's figured out how to set congestion?''

Richter: "Well, we ... we can set it if we want. I mean, it's not a hard game to do.'

In another, an Enron trader identified as David discusses shutting down a steamer from a generating unit to increase prices.

"I was wondering, um, the demand out there is er ... there's not much, ah, demand for power at all and we're running kind of fat. Um, if you took down the steamer, how long would it take to get it back up?

"Oh, it's not something you want to just be turning on and off every hour. Let's put it that way,'' another trader says.

"If we shut it down, could you bring it back up in three - three or four hours, something like that?'' David asks.

"Oh, yeah,'' the other trader says.

"Well, why don't you just go ahead and shut her down, then, if that's OK,'' David says.

Eric Christensen, a lawyer for the utility district, said it is seeking to convince a FERC administrative law judge that Enron should be ordered to surrender as much as $2 billion in unjust profits.


06/02/04 11:59 EDT
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Fortunately Enron had a Code of Ethic. What would it be if they didn't have any :p

"Principles of Human Rights" by Enron Booklet "Code of Ethics 2000"
http://www.thesmokinggun.com/archive/0130061enron3.html
 
You are sounding rather naive. Many in positions of power have these conversations illustrated in the opening post. If they can get away with it...they do. Its all about how to get the dollars most effectively. Nothing has changed before or after Enron in corporate cultures.

Life goes on...deal with it...Ethics?...Morals? ...Fairness? BaWaWaWaWa.... too funny.....no one thanks you...

Michael B.

P.S. Do you think if I do not produce profits for my investors that they would keep me?....gawd they would throw me out on the street in a heartbeat....I prefer to remain anonymous and if I met them on the street they would not know who I am...and I would not know who they are....

P.P.S. People in postions of power and money, only seek to keep increasing profits....as they grow, the challenge is to keep the yield going...Bill Gates has been able to grow yet another year...this guy is fascinating and stays ahead of the game...he has got a great collegue and college friend helping him too...



Quote from tradARRR:

interesting. I wonder who, in a position of power at Enron, wasn't corrupt??

Ya know, they say if you hang around shit long enough, you start to smell like it.....

they thought they could get around the system and make easy money illegally, but in the end, they got caught. Its just not worth it to break the law......
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You are right, ElectricSavant.

Just semantics. What is salary? Well, hell, thats a
bribe for services rendered to your employer.
:)
 
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