Remember what George Bush's response was when he was asked for help? His statement was, if I recall correctly "I'm not going to interfere in the working of the free market."
Free market - Hell! Bush's friend Ken Lay was gaming the system and robbing California blind. The New York Times reports today
"More than four years after rolling blackouts and skyrocketing electricity bills shook California and the rest of the West Coast, the Enron Corporation finally settled claims that it played a major role in the energy crisis of 2000 and 2001.This is the famed "free market" Bush trusts to provide quality products at reasonable prices. Only it is operated by thieves and crooks.
Enron, the former highflying energy trader now operating under bankruptcy protection, announced yesterday that it had reached an agreement to pay as much as $1.52 billion to the State of California and other parties."
The head thief and crook currently resides in the White House.
The right-wing mantra of free enterprise and no regulation has given us a series of criminal activities by large corporations like Enron and WorldCom. Phone Companies and Cable companies are conducting similar scams. So are medical malpractice insurers.
When there are competitors in the market and both buyers and sellers have good information about fair prices and the quality of the goods and services, nothing beats the efficacy of competitive markets. The problems come in when there are weak markets, monopolies, and poor information available to either buyers or sellers. Then there is a requirement for government to step in, threaten or enact trust busting actions or regulate prices and services.
At the very least, the rolling blackouts and price gouging in California established a clear need for federal government investigation and (as we now know) intervention.
It didn't happen. Where was George? Avoiding phone calls from his old friend, Ken Lay?
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