when Enron took advantage of California market deregulation, and the consumer power market actually failed.. a scramble ensued in Sacramento and elsewhere.. man

when Enron took advantage of California market deregulation, and the consumer power market actually failed.. a scramble ensued in Sacramento and elsewhere.. many rocks were turned over in short order. It was discovered that, despite countless regulations, full-time oversight and public review, the upper management at PG&E had found a way to transfer real assets to the books of a second groups of companies, and expanded that to purchase power generation facilities across the US. It was expressly forbidden at every step, and it was discovered because the de-regulation failures had made an actual panic situation. The "left" press in San Francisco had run accusatory media stories for thirty years, but yet management was able to do this. source- attorney involved in private hearings in Sacramento on the PG&E company structure