Bush refrained from putting any pressure on FERC to get off of their ass and investigate the "manipulation" of the California State Power Grid. Moreover, the senior staff of FERC were good old Bush appointees from his good old buddy network in the energy industry. Bush just doesn't give a PHUCK about the economy of California. Earlier this year, the State saw 33,000 salmon die off because of a lack of water coming down the Klammath River from Oregon into California. Why? Because Bush sent Carl Rove out to Oregon for a couple of "personal" visits to pressure on the Interior Department and Oregon State Water Regulatory officials to divert water extra water from the river to farmers. http://www.bayarea.com/mld/mercurynews/news/4878385.htm Bottomline: Due to politics, Bush let the nation's biggest economic locomotive twist in the wind. . . Moreover, like his father before him, he has no idea how to manage the domestic economic scene. He much prefers dealing with Foreign Affairs and Policy. Like Father, Like Son.
Alex G. Hevesi is now asking for the resignation of Richard Grasso. "And the Beat Goes On . . ." Bye bye, Tricky Dick!
...and this concerns Grasso how????? LOL Its all Bush's fault...the whole power failure of cali was not the result of a culmination of bad decisions and circumstances over the last 10 years????? ok....and im very sorry to hear about the salmon....wow.....in Ny we would have run out there with our bagels and cream cheese..you californians are so wasteful
haven't you guys learned? TM_Direct is one of the most clueless posters on ET...on pretty much any subject. Wong!
is calling for the resignation of Richard Grasso, also citing the potential for conflict of interest in regards to receiving almost $200 million in compensation from the people that he is designated to regulate. Grasso has no "credibility" now as a regulator. He must resign.
this is a great day for america. however, i hope this leads to positive changes and not just more of the same old same old. there is way too much conflict of interest all over the place in the markets. if grasso didn't do anything illegal, then don't take away his money or send him to jail. but if this whole thing makes people distrust the markets, i think it would be better to replace him and change the rules so this type of stuff does not happen again. a regulator paid by the regulated stinks. i could care less how much a person makes, but a regulator paid $139 million by the regulated really stinks.