Saturday, February 05, 2005

Alpo Accounts: "Grandma Millie" and the administrative costs of piratization 

Here's the Republican concept of administering a public trust, as shown during electricicty deregulation:

Enron Corp. traders conspired to shut down a healthy power plant as blackouts rolled across California in early 2001, according to documents released Thursday.

In the brash language that has become a familiar coda to the electricity crunch, Enron traders and others were captured discussing in e-mail messages and telephone conversations how they could profit from the state's problems.

That set of tapes, in which traders chanted "burn baby burn" and gloated about inflating costs for "Grandma Millie" in California, inflamed the simmering controversy.
(via LA Times)

Of course, I'm sure this will never happen with Bush's Alpo Accounts—I have complete faith in the integrity of the financial industry and its brokers, and I'm sure that "Grandma Millie" will be in very good hands.

This time.

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