The collapse of Enron and the subsequent collapse of Arthur Andersen were tremendous tragedies. But as I stated at the time of my indictment on July 8, 2004, failure does not equate to a crime.

The transmission systems are still regulated.

I've been a strong financial and political supporter of, first, President Bush Sr. when he was running for president, and even when he ran for president a time or two and failed.

In the case of Enron, we balance our positions all the time.

The problems in California have been that it's been very difficult to site and build new power plants.

Today, there are also buyers and sellers of all these energy commodities, just like there are buyers and sellers of food commodities and many other commodities.

We will cooperate fully with the SEC and look forward to the opportunity to put any concern about these transactions to rest.