Hasta La Vista, $9 Billion
David noted this very interesting theory. According to previously secret internal Enron memos, Schwarzenegger made a back-room deal with the Texas energy companies to agree to write off their debt to California for 2 cents on the dollar. This will effectively cease the ongoing lawsuit by California’s Attorney-General to recover some or all of the $9 billion stolen by Bush’s pals.
The biggest single threat to Ken Lay and the electricity lords is a private lawsuit filed last year under California’s unique Civil Code provision 17200, the “Unfair Business Practices Act.” This litigation, heading to trial now in Los Angeles, would make the power companies return the $9 billion they filched from California electricity and gas customers … One month after Cruz brings suit, Enron’s Lay calls an emergency secret meeting in L.A. of his political buck-buddies, including Arnold. Their plan, to undercut Davis (according to Enron memos) and “solve” the energy crisis — that is, make the Bustamante legal threat go away.