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.

I mean, our primary businesses in wholesale pipelines, utilities, retail, were all doing extremely well.

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.

But the most important thing is, Enron did not cause the California crisis.

We see ourselves as first helping to open up markets to competition.

But indeed a market like California is not good for Enron.

Well, rates would go up whether you deregulate or not, and of course, the rates that are going up right now on the electricity side are still within the regulated framework.