There have been a lot of misplaced tears in the Affair Enron. The employees were shafted, no doubt about it. But the shareholders?
I didn't hear any of them moan when Enron stock shot up through the roof when the company, joined by a half dozen other power pirates, manipulated, monopolised and muscled the California electricity market a year ago.
All together, Enron and half a dozen others skinned purchasers for more than $12bn in excess charges. That's the calculation of Calfornia's utility watchdog as presented to federal regulators in a damning petition for refunds.
Enron: Not the Only Bad Apple
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