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There was huge backlash even when this super high cap was passed. The initial idea was that the market will regulate itself, thus no cap is needed. The small d
by whatever1 5y ago
There was huge backlash even when this super high cap was passed. The initial idea was that the market will regulate itself, thus no cap is needed.
The small detail they let out of the equation is that the taxpayers will have to bail out the market if it does not regulate itself.
And boy did we pay for nice ceo bonuses that spring.
- caminante 5y agoI forgot about this hilarious event where a regulator made the mistake of telling utilities they'd get bailed out. https://en.m.wikipedia.org/wiki/2021_Texas_power_crisis#PUC_controversy https://en.m.wikipedia.org/wiki/2021_Texas_power_crisis#PUC_...