Enron electricity traders took California to the cleaners - radio play.

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There are two radio plays, today and tomorrow, which seek to explain how Enron claimed to be the good guys, while laughing up their sleeves at the regulatory authorities of the US and made a fortune out of artificially reducing the electricity supply to inflate the prices they could charge, and boost their bonuses and profits.

The corporation's senior insiders sold their stock at the top of the market (around $90 per share), while the employees felt that that would be disloyal and held on until it went to 40 cents, wiping out savings and money intended to fund retirements.

Only the first play has been broadcast so far, and you can listen over the internet from:
"Power play 1" Enron radio play 1

and hear the "high-five" whoops of the traders in the trading room as they operate their tricks, like exporting the electricity out of state, so they can then avoid the energy price caps in California by appearing to import it from "out of state"; or encouraging power station managers to take their power station off-line "for maintenance" thereby reducing the supply and forcing a higher price to be paid.

After the second play has been broadcast tomorrow at 2.15pm UK time, you'll be able to hear it over the web from this webpage:
"Wilful blindness" Enron radio play 2

KC