I’ve paid very little attention to the so-called “Enron Loophole” because its so utterly ridiculous that I can barely concentrate long enough to type out the word “speculator” (which sounds to me like “prospector” which is a funny visual.)
However, I’ve gotten two emails about the subject this week so I feel that I have to say something.
Dianne Feinstein talked about the bill thusly: “This bill is really our best bet to deter unscrupulous traders from manipulating energy prices and engaging in excessive speculation. This has been a long, hard road – and this is a major legislative victory.”
I think this is a perfect example of what is wrong with politicians speaking out of their purview. Di-Fi makes no sense at all. Every person who owns a share of energy stock “manipulates energy prices”. And what is “excessive speculation” ?
This is like trying to argue against socialism or murder. It’s exhausting because it’s so silly. It’s wrong to heap more regulations on people who are trying to make money for the idiots in congress to tax. Without them, the legislative body might have to do something productive and we can’t allow that to happen.
