Texas’s Energy Crisis Shows Why We Need to Reform Our Privatized Energy System

>The recent meltdown of Texas’s energy grid during a spell of extreme weather made it extremely clear for everyone to see: a for-profit, free-market-oriented energy system is bound to fail massive numbers of people.
https://jacobin.com/2021/02/texas-energy-crisis-privatized-system #Texas #privatization #Enron #GOP

@webmink
Too right. People who do the right thing seem to be at a disadvantage compared to corporates who don't!

Very occasionally a good #whistleblower can 'buck that trend'. We are reminded of a recent episode of #TheWhistleblowers by #JohnKiriakou in which he interviews an accountant #SherronWatkins, who landed a number of #Enron high-level execs in prison.

She has something even more damning to explain about a certain #DickCheney.

Worth an ear:
https://www.rt.com/shows/whistleblowers/576482-enron-energy-company-fall/

@Cdespinosa

@andrew @law it’s interesting, my YouTube just decided that I watch a #pbs #frontline episode from 2004 about KPMG doing super super illegal tax things. As “auditors.”

They’re just another Arthur A Anderson and life is just one big #enron anymore.

Erinnert sich noch jemand an #Enron? Schöne Grüße vom Murmeltier! 🤪

https://www.infosperber.ch/wirtschaft/konzerne/wie-wenn-schueler-fuer-ihre-noten-die-lehrer-bezahlen-wuerden/

@Rumpelstiltskin That sounds so similar to the #Enron #Dabhol con 😞

@disarray do you also got the #Enron and #LehmanBrothers shirts, too?

Financial bankruptcy and moral bankruptcy are not just verbal analogies. Every and all financial credit system is just a moral construct (#graeber)

Outright fraud is frequently behind major collapse events (#enron, #wirecard, #financialcrisis etc). This generally involves false representations, cooking the books and so forth.

But more insidious and widespread damage comes from the design of the "books" themselves.

Extractive and parasitic practices and TINA arguments that perpetuate inequality, marginalize major parts of society, incentivize unsustainable economies, privatize profits and socialize losses, eventually bankrupting society itself - entirely from within

Unfortunately, and at least for now, ideas and efforts about alternative financial systems have been discredited (pun) by the attack of the #cryptobros

Yet, like in so many other areas, the digital era is full of promise. Separating the chaff from the wheat and designing #sustainablefinance should be possible

🎬 #Oscar- and #Emmy-winning Doc #director #AlexGibney has set sights on #ElonMusk in a new #documentary, "Musk." His previous films include "Going Clear (#Scientology), "We Steal Secrets" (#Wikileaks), and "#Enron: The Smartest Guy in the Room."

The filmmaker promises a “definitive and unvarnished examination" of the former "Richest Man in the World."

#Documentary #twitter #birdsite #Space #SpaceX #Tesla #movies #film

https://www.rollingstone.com/culture/culture-news/elon-musk-documentary-alex-gibney-1234691679/

How Dips**t #Grifters Are #Scamming You
https://www.youtube.com/watch?v=zOip1UZ3hL4
#scams #FTX #SharkTank #crypto #coinbase #finance #Enron

@cnexnews

Hopefully the results won't be reminiscent of of #FTX and #Enron.

#20yrsago Ipsos-Reid sez #P2P doesn’t hurt record sales https://web.archive.org/web/20030416231449/http://www.ipsos-na.com/dsp_tempo.cfm

#20yrsago #CopyrightOffice posts #AntiCircumvention comments https://www.copyright.gov/1201/2003/reply/reply1.html

#20yrsago London's weird confluence of Orthodox Judiasm and proprietary software https://web.archive.org/web/20030314104647/http://cheerleader.yoz.com/archives/000433.html

#20yrsago Skunkworks: #Enron’s spiritual forebears https://www.wired.com/2003/03/silent-but-deadly/

#15yrsago Loony evangelical says he engineered Canadian film tax-credit changes that doom edgy indie movies https://web.archive.org/web/20080304152637/https://www.theglobeandmail.com/servlet/story/RTGAM.20080229.wculture29/BNStory/National/home

4/

Started on "The Smartest Guys in the Room" last night. I'm only a couple of chapters in and I can totally see why this is required reading in some business schools: 📖

#books #enron #stocks

https://www.goodreads.com/book/show/113576.The_Smartest_Guys_in_the_Room

Big Ken, telling us how it is! ⚡ #Enron #InspirationalQuotes

Greedy, lazy rent-seekers do not change their stripes after one, two, or three get-rich-quick schemes implode.

Expecting the world to give them everything for nothing is the core trait of rich people - not an inexplicable error in judgment. #madoff #enron #ftx #capitalism

https://www.ft.com/content/2c70076a-3c59-4183-b4c6-79fb202a8b98

#PuertoRico is about to privatize power generation after a series of hurricanes wiped out reliable power on the island. But there's a great deal of public skepticism it will improve stability.

I mean, anyone remember #Enron in Texas cutting power to #California and raising prices? Ken Lay (CEO), heckuv a guy! As George W Bush said.

A shit show that may ultimately convince Puerto Ricans to choose #independence.

#electricity #powerplant #neoliberalism

https://www.nbcnews.com/news/latino/puerto-rico-way-privatizing-power-generation-widespread-skepticism-rcna66087

People calling cryptocurrency a scam just because of #FTX are as idiotic as people calling electricity a scam because of #Enron.

@sibbo Schlag nach bei #Enron. Ja, CEO Skilling hat meines Wissens dreimal vor dem US Congress ausgesagt: 1997 zum Thema #Deregulierung (ha!), sowie 2x im Jahr 2002 ~2 Monate nach dem Enron-Zusammenbruch. (CFO #Fastow hat sich entschlagen.)
https://www.c-span.org/person/?48182/JeffreySkilling
Angeklagt wurde #Skilling 2004. Lange nach der Aussage, nicht davor.

I hope the #ftx email corpus turns out to be as good as the #enron corpus was in its day. It may be the only thing of durable value to come from ftx.

For those not in the know, Ray is the new CEO appointed after the chapter 11 filing, he handled the #Enron restructuring too, so yeah he's experienced. All statements are under threat of perjury so I highly trust what he says

FTX-Gründer Bankman-Fried verhaftet

Sam Bankman-Fried sitzt auf den Bahamas in Haft. Grund ist ein Haftbefehl der USA, die den Mann anklagen. Heute hätte er im US-Parlament aussagen sollen.

https://www.heise.de/news/FTX-Gruender-Bankman-Fried-verhaftet-7392437.html?wt_mc=sm.red.ho.mastodon.mastodon.-.-

#AlamedaResearch #Anklage #Auslieferung #Bahamas #Enron #FTX #Finanzen #Geld #Geschäftszahlen #Haft #JohnRay #Kryptowährung #Recht #SBF #SamBankmanFried #USA #Veruntreuung #News