Exponential Enrons Ahead

[silverweb]

I searched and didn't see any reference to this subject elsewhere, but this is very important. This administration's energy bill is a disaster for everyone except the energy barons. Is it too late to do anything to stop this steamroller???

I want to get off the grid even more now.... :grr:


Exponential Enrons Ahead
Kelpie Wilson
t r u t h o u t | Perspective

Thursday 23 June 2005

One of the least-discussed provisions in the Bush energy bill that has passed the House and is now fast-tracked in the Senate is PUHCA repeal. "Pooka repeal," you say, "what's that?"

The Public Utilities Holding Company Act (PUHCA) is a cornerstone New Deal financial reform signed into law in 1935. It was the biggest battle in FDR's first term. Utilities had become cash cows for power moguls who created complex holding company pyramids for milking ultra-reliable ratepayer income to feed speculative investments. The crash of 1929 knocked these structures flat and took down millions of small investors who had been sold on the reliability of utilities as an investment.

Does any of that sound familiar?

Both the House and Senate versions of the energy bill now contain the PUHCA repeal provision.

More: http://www.truthout.org/docs_2005/062305A.shtml

[Deja Q]

1. With energy supplies about to collapse, I am not surprised.

Either way, it's all about money.

America has no soul.

[texastoast]

2. I just read that and was about to post it

So much of what * is trying to do has such strong potential for creating devastating conditions in America. I sure wish more people would keep up with the little demon and wake up!

:grr: