| When Enron bought up energy contracts and install | | | | and sells wheat futures and makes a profit, he is doing |
| them back to the state of California for five times their | | | | so at the detriment of the farmer and the end |
| face value, it one of nearly bankrupt the state, it did | | | | consumer because the money he makes will either |
| bankrupt one major energy supplier. Yet, Enron is | | | | hurt another trader in the future, or cause an artificially |
| perfectly allowed to do this, based on the laws of | | | | increased price for the making of bread, meaning that |
| deregulation of the energy industry passed in California. | | | | you and I and everyone else the world will have to |
| When California settled to pay Enron only 2 and a half | | | | pay just a low more for a low for bread. Period next |
| times the cost, Californians were still hurt. In almost | | | | paragraphI would have to question the viability of the |
| every trade journal, they talked about increasing | | | | commodities market in its direct relation to its original |
| energy costs in California for small, medium and large | | | | objective when it was formed; although, I question |
| businesses. But Enron was not the only person did this; | | | | everything. I also question how anyone can consider |
| I remember reading about a company in Portland OR, | | | | that the stock market is really helping capitalize |
| a steel company that had a three-year contract to | | | | American business. When first started, it did a great |
| buy energy from a hydroelectric power plant in the | | | | job, but today it is a gambling casino where companies |
| Dalles in OR. Seeing that the energy contracts was | | | | are artificially maken or broken on the whims of |
| for a low amount of money, any open markets were | | | | institutional traders, day traders, computerized |
| paying quite higher prices due to Enron manipulations, a | | | | momentum trading strategies and pure greed. (not |
| steel company sold its energy contracts to other users | | | | denying that innate characteristic). I would have to ask, |
| and used the entire maximum capacity of the contract | | | | how in the hell is that helping anyone. A company |
| for three years into the future and sold the | | | | trading at 500 times earnings is ridiculous. Enron trading |
| excess.Then the CFO figured out that they can close | | | | at 80 was a joke; Global Crossing was nuts. Kmart is |
| the plants, lay off the workers, pay every worker | | | | a viable concept, they sell stuff, people by stuff and |
| three months full pay, and that they would make five | | | | Sears could see that too. I sometimes look at the |
| times the them out of profit on the energy than in | | | | reality of the situation and find there to be none. Well |
| making steel. Of course that was in the best interest | | | | that's fine as long as you know the truth, may as well |
| of the shareholders, in the worst interest of the | | | | keep on trading and hit Las Vegas once in a while to, |
| employees and terrible for the steel industry in | | | | they need your money as well. Have a great evening. |
| America. I just thought everybody should understand | | | | Think on it.Lance Winslow - Online Think Tank forum |
| some of the problems associated with the trading of | | | | board. |
| commodities. If you're next-door neighbor purchases | | | | |