Enron faces suit in California over rigging power market

[phoebe]

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2004/06/06/cnenron06.xml&menuId=242&sSheet=/money/2004/06/06/ixcity.html

Enron, the disgraced US energy company, is to be sued by the attorney general of California for up to $9bn (£4.9bn) for allegedly rigging the power market during the "sunshine" state's power crisis in 2000.

The legal action, to be launched later this week, is expected to coincide with a decision by a New York court over whether to approve a restructuring plan from Enron that could see the company emerge from Chapter 11 bankruptcy.

The Californian legal action follows the discovery of transcripts of expletive-filled telephone conversations between Enron traders and brokers in which they brag about ripping off the power generator's customers.

California needs to go after the private bank accounts of Messrs. Skilling, Lay, Bush, Cheney, Schwarzenegger, et al. as well as the assets that have been transferred to their various family members.

[Bozita]

1. Hmmm... no mention of Ah-nuld

What will Ah-nuld do?

[fizzana]

2. Unfortunately, the net result of this will be that Enron fails to

emerge from bankruptcy and CA gets zilch. At the same time California has to file the suit to prove a point if nothing else.

[fizzana]

3. Unfortunately, the net result of this will be that Enron fails to

emerge from bankruptcy and CA gets zilch. At the same time California has to file the suit to prove a point if nothing else.

[teryang]

4. The officers should be sued in their personal

...capacities and their properties should have liens placed on them.

[leesa]

5. This is so excellent! May be the first step to the notorious 'Energy

Papers' being forced open.

[Senior citizen]

6. The case will randomly be assigned to a conservative judge,

and California will stand in line with all the others Enron owes money to and have to settle for 2 cents on the dollar. This judgment will, however, be overturned by SCOTUS. Meanwhile the miscreants will be awarded no-bid contracts in Iraq, which they will administer from their tax haven in Bermuda.

[doni_georgia]

7. Here's yer settlement Gramma Millie!

One dollar and six cents.

A better idea than suing...line up all the Californians who got bilked in this scam, and let them punch each of the people at Enron in the face one time each.

Or let them jam their electric bills up the Enron thieves' assholes. Good preparation for their jail sentences. Hand out Viagra to any of their fellow inmates who asks for it.

I'm normally a fairly compassionate person but I have no use for the kind of viciousness that accompanied the exploitation this company engaged in. The "Grandma Millie" recording made my blood boil. Swinish little snakes.

Mac in Ga