Enron wasn't just about accounting engineering:
Enron energy trader pleads guilty
The former head of Enron electricity trading has pleaded guilty to a charge of conspiracy to commit fraud for his part in manipulating California's energy market to drive up power prices.
His conviction is the first since an investigation into power manipulation in the Golden State drove electricity and natural-gas prices sky high during the state's energy crisis in 2000-01.
Mr Belden faces up to five years in prison plus fines of up to $250,000 (£161,000) and pay restitution of $2.1m (£1.4m), according to the plea deal.
"These charges answer the question that has long troubled California consumers: Whether the energy crisis was spurred in part by criminal activity," said US Attorney Kevin Ryan in a statement.
"The answer is a resounding yes."
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Of course tapes help too:
Enron Traders Caught On Tape
Before the 2000 election, Enron employees pondered the possibilities of a Bush win.
"It'd be great. I'd love to see Ken Lay Secretary of Energy," says one Enron worker.
That didn't happen, but they were sure President Bush would fight any limits on sky-high energy prices.
"When this election comes Bush will f------g whack this s--t, man. He won't play this price-cap b------t."
Crude, but true.
"We will not take any action that makes California's problems worse and that's why I oppose price caps," said Mr. Bush on May 29, 2001.
Both the Justice Department and Enron tried to prevent the release of these tapes. Enron's lawyers argued they merely prove "that people at Enron sometimes talked like Barnacle Bill the Sailor."
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What a story and a need for more regulation and tougher standards.
Enron energy trader pleads guilty
The former head of Enron electricity trading has pleaded guilty to a charge of conspiracy to commit fraud for his part in manipulating California's energy market to drive up power prices.
His conviction is the first since an investigation into power manipulation in the Golden State drove electricity and natural-gas prices sky high during the state's energy crisis in 2000-01.
Mr Belden faces up to five years in prison plus fines of up to $250,000 (£161,000) and pay restitution of $2.1m (£1.4m), according to the plea deal.
"These charges answer the question that has long troubled California consumers: Whether the energy crisis was spurred in part by criminal activity," said US Attorney Kevin Ryan in a statement.
"The answer is a resounding yes."
-----------
Of course tapes help too:
Enron Traders Caught On Tape
Before the 2000 election, Enron employees pondered the possibilities of a Bush win.
"It'd be great. I'd love to see Ken Lay Secretary of Energy," says one Enron worker.
That didn't happen, but they were sure President Bush would fight any limits on sky-high energy prices.
"When this election comes Bush will f------g whack this s--t, man. He won't play this price-cap b------t."
Crude, but true.
"We will not take any action that makes California's problems worse and that's why I oppose price caps," said Mr. Bush on May 29, 2001.
Both the Justice Department and Enron tried to prevent the release of these tapes. Enron's lawyers argued they merely prove "that people at Enron sometimes talked like Barnacle Bill the Sailor."
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What a story and a need for more regulation and tougher standards.
) About a fifth of the way through it, and it's interesting reading, but I'm yet to come across anything particularly heinous.