The Real Lesson Wall Street Learned From Enron - $4.00+ Gas Prices

Steve Kroft on CBS's 60 Minutes had a story last night about last years rapid rise and decline in gas prices. The story basically offered that it was speculators in the market that caused the phenomena of $4.00 gas to appear in a matter of weeks. The fact is that it was manipulation and not speculation that accounted for last years gas prices. When the element of chance is removed, it is not SPECULATION. Manipulating the oil market to rape Americans was planned on not bet on.

Goldman-Sachs and others on Wall Street simply manipulated the oil market to soak ALL Americans out of tens of billions of dollars. They got their playbook from Enron. Enron was the driving force behind the deregulation of energy markets in their heyday. Their strategic plan was to create an opaque energy trading market that they controlled and then manipulate the price of energy at their whim. In Enron's case, they knew they were going to collapse without major infusions of cash and that is why they manipulated the California electricity market to the tune of a few billion a few summers back. Think of it as their "shake-down" cruise if you will. Unfortunately for Enron, it wasn't enough to reinflate their ballon and they sank into oblivion.

Goldman-Sachs and Morgan Stanley etc. also KNEW they were facing serious finacial problems this last year and they simply used the Enron playbook. It is no different than one mobster taking over a racket from another deposed mobster. The Wall Street gangsters knew that they could manipulate the energy market just as Enron had done. Fortunately for them, they also had the security of not being allowed to fail without bringing down the world's economy in a hurry. Also fortunate for them is the fact that only a VERY, VERY few of them will ever be in legal jeopardy for their criminal activities.

In short, Wall Street firms have taken over the racket built by Enron. The bad thing for America is that the mechanisms are still very much in place for these firms to again manipulate the energy market and steal untold billions at their pleasure.

:grr:

If they don't do something then I agree it will happen again. We need to contact those we put in office to "help" the people and tell them we want more regulations so this won't happen again! If congress doesn't do anything, then they need to be voted out of office in the next election they are in, and replaced by those who will, and I don't care what party they belong to!

60 minutes did say that congress was going to work on this, but we all know that unless we keep on telling them we want change the odds are not in our favor!

Looks like they did the opposite, instead. MIHOP?

Smartest guys in the room.. :puke:

:kick: