Pete Davis, alias Gray Wilson. Pete did a stupid in legislating price controls. Gray did a stupid in buying electricity in secret. The two of them cost tens of billions and was the trigger for the budget collapse. If you remove the Great Exogenous and applied common sense, the solution was, Turn off the Damn Light Switch, a practice commonly known in households.
Kevin Drum once again defends Pete Wilson's stupid price controls and blames Gray Davis for buying power at highly controlled rates. I place the blame squarely on the voters who elected officials unfamiliar with the Light Switch.
1 comment:
"In 2003, pissed off at Gov. Gray Davis over an energy crisis that we later learned had been deliberately manufactured by Enron and wasn't his fault at all...."
That's a very strange way of "blaming" Gray Davis, no? The California power crisis was the result of bad deregulation plus deliberate fraud and gaming by energy traders. Gray Davis ended up buying electricity at the point of a gun. Telling everybody to simply shut off their lights wasn't really a serious option.
Post a Comment