California to issue IOUs instead of cash

Um, yes it is the fault of Californians - and directly their own fault, because the voters voted for a voter initiative that changed the electric rates from government regulated rates to market rates in most counties.

So Californian's got what they wanted. The lesson here is that there are certain things the government does better than the market.

I'm glad my electric utility wasn't one of the ones that went over to market rates but stayed under the government system, so nothing changed for me while others in conservative San Diego and other parts of the state got what they voted for.

If you want to be respected, I suggest you stop the name calling.

Back on point:

1. The Lobbyists tried for years to get legislation passed in CA and then they went to voter initiative way when they couldn't. There was no "crisis" at the time. What was promised was lower electric bills due to competition. That is how it was sold and people believed it. The voices that called it for what it was and the dangers were not heard.

2, I'm talking about the period BEFORE Enron and others gamed the consumers. My point is that the voters opened themselves up to this by voting the way they did.

3. I'm not talking about the period during the price manipulation. Yes, the price was manipulated and consumers scammed - but they put themselves at risk by relying on these providers to maximize their profits rather than proving maximum electricity.

4. If the government doesn't do some things more efficiently, then let us privatize everything:

- Police
- Courts
- Military
- Fire Dept
- All agencies (EPA, FDA, etc..)
- Etc...

Let me give you one example were the industry is basically private in all respects including regulation and enforcement of rules and laws: Securities Industry - that is Wall Street to most

Wall Street self regulated via organizations called SROs or Self Regulatory Organizations. They self regulate and self enforce their members - the Wall Street firms. I could go on and on or you could watch my Video. What that has brought us is obvious today. There are just some things that the government does better than anybody.

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