(Does Gray Davis get to be Governor again?)
By Brad Friedman on 4/8/2004, 1:33pm PT  

Anyone remember the Summer of 2000? The fake "power crisis" in California that eventually paved the way for the Recall of Gray Davis?

Remember the claims by Rush and Friends that it was all due to the Environmental Whacko's who wouldn't allow California to build more power plants? That Davis and California had only themselves to blame because they were out of touch, birkenstock-wearing Libs who finally were getting their comeuppance for their failed tree-hugging environmental policies?

Remember those Environmental Whackos who used FACTS to explain that the "power shortage" was a fraud created and manipulated by the Power Marketeers like Enron and Reliant? (You may not remember that part, since the Media, as "Liberal" as we all know they are, didn't seem to get the word out on that as well as they got the Conservatives completely made-up spin out there).

Well, today, a Federal Grand Jury has finally begun the process of correcting the record with it's indictment of Reliant for manipulating the Power Markets during the "Crisis of 2002". From Reuters:

The indictment alleged that in June 2000, Reliant Energy Services and its officers and employees intentionally drove up the price of electricity in the state by shutting off its power generation to create the false appearance of a shortage.

According to the indictment, the plan worked and Reliant Energy Services allegedly reaped millions in illegal profits.

Shocking! Whodathunkit?! It goes on:

The indictment says that Reliant was faced with a potential multimillion dollar financial loss in June 2000 when prices in the electricity markets fell dramatically. In order to reverse its losing position, the defendants devised an illegal scheme to drive up the price of electricity by shutting off most of the company's power generation plants, thus creating the appearance of an electricity shortage.

It then dissemanated false and misleading information to the market that wrongly attributed the shut-downs to environmental limitations and maintenance problems, according to the indictment.

No! Really?!

Oddly enough, DittoHeads didn't get this breaking news today from Rush and his stack of stuff, but I'm sure Sean will be getting to it any minute. Just after he pulls his tongue out of Condi's ass.

                 

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