The Daily Enron

GAO: Bush Energy Regulators are Paper Tigers
Kleptocapitalism: Shareholders In Pursuit of Justice

Those nosey folks over at the General Accounting Office were at it again yesterday. The nonpartisan investigative arm of Congress poked around the Bush administration's energy regulatory agency, FERC. What they found will provide little reassurance for energy ratepayers but may come as great comfort to energy traders. Let's just say, you might as well sleep well - the folks at FERC are. And when was the last time you got a pink slip with a check for a few million bucks stapled to it? Me either. But plenty of US executives of failing companies are hauling in going away presents that would choke a horse - or a bankruptcy trustee. » Read more at the

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