I was surfing Wired today and read an article titled “Trade Electricity Like Pork Bellies” and I instantly questioned the age and awareness of the writer. Enron was due to energy trading and gaming of the system, and it will happen again without expensive and constant regulation and oversight. If there is a mechanism that allows shenanigans to take place, it will take place. From AIG, to Enron, and anything associated with future value of a good… the market WILL be gamed. There isn’t any evidence beyond the collapsing of companies that reflect it because the gaming is illegal, but we have Jim Cramer to thank for coming out and stating as much that the stock market is a game. Frankly, the whole thing is based on a group of people with money betting against others with money and all of it driving up the costs to people who understand a measured growth rate. No one likes oversight, it costs money, and slows the system down… but they really don’t like it when the market being monitored is making money. Then, those who are watching and catching illegal activity, or unethical activity for that matter, are to blame when it collapses. But they were hamstrung by politics and money until that point.
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