New Evidence: Enron Scams Began Years Ago

[Yo_Mama_Been_Loggin]

EVERETT, Wash. - Fallen energy giant Enron Corp. was running scams to drive up the cost of power years before the 2000-01 West Coast energy crisis, according to audio transcripts and documents unveiled Thursday by a public utility north of Seattle.


By November 1997, Enron apparently knew of loopholes in California's ill-advised deregulation plan, and by May 1998 — a month after the plan took effect — Enron was already falsifying transmission schedules to inflate prices, Snohomish County Public Utility District officials said Thursday as they unveiled new evidence at a news conference.


The utility in Everett, about 30 miles north of Seattle, obtained much of its most recent evidence in one of Enron's Houston warehouses and has been using its meager resources to transcribe thousands of hours of phone conversations involving Enron traders — a job it says should have been done by federal regulators long ago.


The district is hoping to prove that an exorbitant contract it entered with Enron in January 2001, at the height of the crisis, should be considered fraudulent because of Enron's manipulation, and that the utility shouldn't have to pay the $122 million that Enron claims it owes.

http://story.news.yahoo.com/news?tmpl=story&cid=530&e=3&u=/ap/20050204/ap_on_bi_ge/enron

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1. duplicate topic

http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=102&topic_id=1209480