Is the "King" going to eliminate the Enron Loophole?

[Postman]

Greenberger Testimony on Wall Street Traitors manipulating oil prices ala Enron
http://www.youtube.com/watch?v=zbdtTGYQBMU

Understatement of the month....Saudi Arabia understands that the current price of oil is not normal.
http://www.huffingtonpost.com/2008/06/15/saudis-agree-to-boost-oil_n_107235.html

[ben_meyers]

1. I don't know about the king, but can we bring those responsible to justice?

Back in December 2000, Congress passed and President Clinton signed into law the “Commodities Futures Modernization Act of 2000 ”. While the CFMA attempted to resolve the dispute over jurisdiction between the SEC and the CFTC, two elements of the bill appear to have a direct impact on the markets and the financial services industry, specifically investment banks and hedge funds.

[McCamy Taylor]

2. In Texas they are manipulating wholesale energy prices to jack up utility rates

and drive small electricity providers out of business just like in the California price gouging days. 30,000 customers have been forced to switch to high priced electricity providers of last resort. The Republicans in Austin killed legislation that would have capped rates and prevented this scam.

TXU, now called Energy Futures Holding Company

http://en.wikipedia.org/wiki/TXU

which will probably be the only company left standing after all the others are driven out of business has been acquired by an unholy trio of companies, KKR, TPG Capital and Goldman Sachs who have no business being in the Texas energy business--unless their real plan is the same as Enron's was in 2001-- take consumers for everything we have. Maybe to help offset some bad investments made by Goldman Sachs. If you are teetering on the verge of bankruptcy, it helps to have a few million people dependent upon you for their electricity and forced to pay you whatever rates you set. That way the parent companies have ready cash and they can always unload the utility for even more cash in a pinch.