“To get the full return of the stock market, you have to invest in all the stocks available, not just your own,” says The Wall Street Journal’s Jason Zweig.
In California, energy companies gamed the markets and ushered in large-scale blackouts in 2000-2001, incidents that have Enron’s fingerprints all over them.
California faces more potential rolling blackouts this year due to a historic drought. But the state’s deregulated power system also plays a role, and dates back to the Enron scandal.
J.P. Morgan Chase is reportedly in negotiations with federal regulators over charges the bank manipulated energy markets in California and around the country. This would have looked very different before the Enron scandal a decade ago.
