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HomeManipulating Electricity: When Will Madness End?
Posted by Larry Doyle on July 22nd, 2013 7:25 AM |
Do readers recall how the morally depraved crowd at Enron manipulated the electricity markets so aggressively in California in 2000 as to force the state to implement rolling blackouts?
I am assuming there are some in our audience who not only remember the rolling blackouts, but actually lived through them.
Market manipulation of a basic good or service is a destructive force like none other. Many in America and around the world will dismiss the manipulation that goes on in a structured products market, such as mortgage-backed securities or auction-rate securities. They will similarly dismiss the clandestine dealings within the credit derivatives space or the arcane world of high-frequency trading. (more…)
