Thursday, June 12, 2003

Bidness as usual in Texas

Kristen Hays of the AP writes:

Three former Dynegy Inc. executives were charged in a federal indictment unsealed Thursday with conspiracy and fraud for their roles in accounting transactions that regulators say improperly boosted the energy company's cash flow by $300 million and cut its taxes.

Dynegy is still under investigation by California power regulators who found that a series of blackouts that plagued the state in 2000 and 2001 could have been avoided if generators had not withheld electricity at crucial times. The California Public Utilities Commission named the five largest non-utility power generators, including Dynegy.

Why can't aWol just go home and clean up his own backyard?