Update: Guilty

A few weeks ago, I wondered whether Enron’s trading tactics were illegal. Now we know: 3rd exec at Enron pleads guilty. But will we see signficant restitution in California? Highly unlikely. I predict that these jokers will only spend a relatively short time in minimum security prison, while the California ratepayers and taxpayers continue to be stuck paying the bill for this dastardly deed. Shame on Enron.

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