Enron to pay California (Mercury News)

[ailsagirl]

Enron to pay California

BUT ENTIRE $1.5 BILLION ENERGY SETTLEMENT UNLIKELY TO BE COLLECTED

By Matthai Chakko Kuruvila

Enron agreed Friday to a $1.52 billion settlement with a host of California agencies and private utilities that alleged the Houston energy trader manipulated electricity markets to gouge consumers during the state's 2000-2001 energy crisis.

But only $47.5 million of the settlement is guaranteed -- and as little as $200 million of the remainder may be paid because of the way the company's assets are structured by a federal bankruptcy court in New York.

The settlement marks the end of the state's litigation against Enron.

The settlement amount is in stark contrast to the billions Enron took from the state during the energy crisis. The Federal Energy Regulatory Commission puts Enron's illegal profits in the state from 1997 to 2003 at over $1.6 billion.

http://www.mercurynews.com/mld/mercurynews/business/12149001.htm
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[Merlot]

1. Oh yippee... 47.5 million against a $30 BILLION rip off

yea, we did good here. our good buddy arnie let the case drop to take care of his enron friends.

anyone who voted for arnie doesn't deserve a refund!

[ailsagirl]

2. I know... it's so disgusting. I heard some time back that Arnie

originally settled for THREE CENTS on the dollar.

Thanks, moron.

Anyway, at least it's something!!

[fooj]

3. Arnie's days are numbered, IMO. The Terminator as a shill! LOL!

What a joke. I won't be happy until Ken Lay is brought to justice. Shit...how long have we Californians waited for that? Last I heard, his trial was set for June. So, now we are in July...

What a bunch of lying thieves!

peace.

[yorkiemommie1]

4. sickening

didn't enron's execs just give themselves a big raise???

[cascadiance]

5. Yah, the least we could get for our moneys' worth would be...

... to see Fastow, Skilling, and Lay all rotting someplace in a "pound me in the butt" prison!

[robertarctor]

6. Add Arnie to that mix

Since he legitimized their ripoff by settling for bupkes, send Arnie to the same Federal Pound Me in the Ass Prison, too.

Schwarzenegger was the Enron stealth candidate. He's Rove's meat puppet in California.