What Byrne Hobart Thinks About Everything — Part Two
Village Global Podcast
00:00
Enron and the Energy Market in the 90s
In the early 90s that system totally fell apart. They eventually went up past 15%. So at that point if you are an SNL you are massively underwater and what the government did was it loosened restrictions on their ability to take deposits, which basically allowed the industry to bail itself out by throwing its way out of the problem. There's a similar I guess somewhat analogous example in California in the late 90s or over 2000s when the original plan was to totally deregulate their energy market. Public, private, pseudo-public, pseudo-private partnerships tend to bring it out the absolute worst in our system and they also tend to be flawlessly expensive.
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