Monday Mount Up: Enron Loophole ???

People pissing about the “Enron loophole” are populist know nothings that think government is always right and speculators are omnipotent. The true impact of Enron which helped lead to Sarbanes-Oxley, and how it all impacts commodities trading is deeper then the the twisted panty, cry baby pussies who need a new mommy (government) will ever fathom.

You won’t like this link if you’re one of the nanny needers but give it a go. Track down the part about the onion trading.

If nothing else know this: If you try to over regulate the commodity traders (ICE) they will go off shore and the USA and the American consumer will totally be at the short end of the stick.

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3 Comments

  1. Randy says:

    Interesting article. Good find..

    Just a thought, it sounds as if (one of) the writers thinks the credit crisis led to flooding the market with liquidity, which drove down the dollar, which drove up the price of oil. So the housing crisis led to the oil crisis. I realize that’s an oversimplification, but that’s the pattern.

    Interesting.

  2. Alfie says:

    This post was to counter a post I saw in a feed without going on a direct offense kind of thing. I think there are a number of contributing issues for oil and gas prices as well as other parts of the economy and we can’t take stupid populist steps to work things out. Thanks for stopping by lately with the good comments-always welcomed.

  3. Joel says:

    This isn’t a direct response to this issue, but I often wonder where the dichotomy between government power/private power originated, and why conservatives seem to think unaccountable plutocratic private power is somehow inherently more benign than government power. For all government’s myriad faults, it is at least subject to the (imperfect, admittedly) democratic process and therefore accountable to the people by whose consent it governs. Large concentrations of private power is a frightening alternative because there is no comparable mechanism by which to bring a private body to account.

    You make an excellent point but as you said it isn’t a direct response to the post. It does capture some spirits of it though. I will only say for now that I haven’t called for a revocation of regulation. For this post specifically the “enron loophole” and it’s related targets are actually already regulated internally and externally,public and private. Further attempts will not solve the perceived problem and likely cause the entity (ICE) to go offshore. Thanks for stopping by though

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