"Unions are Evil"

[tylerdurden]

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The law may have punished them, but the market destroyed them. The law doesn't mandate that their stock drop to 0.30.

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OK. Why exactly did the market react when it did? Because their crimes were being exposed? Or was it just a normal everyday market adjustment thing?

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Because the information was available.

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The market became exposed to the fact that a stock they thought was worth something was in fact worth considerably less. A fact made clear to them by a legal investigation, not because California could suddenly buy cheaper electricity thru a competitor of Enrons'.

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Yes, more information came out. I don't see where you're going with this. You're also confusing the accounting hijinx with the regulatory abuses - abuses that were enabled and encouraged by poorly-planned government regulation.

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Also, you're conflating the concepts of "government" and "law"

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That's because the government creates the law.

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But they are still seperate. There's nothing intrinsic about law that requires a government to create it. The government gives itself a monopoly on it, that's all. The fact that the concept of law prevailed and outed thugs doesn't automatically validate government.

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You can substitute "government" for "market" with no problem.

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When they suppress supply to increase demand, that's manipulating the market. When they bribe politicians to pay higher prices for a commodity readily available for less, that's manipulating government. I'm sure Enron were guilty of both, but they are different.

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Suppressing supply to increase demand is fine with me. If the market is truly free, this move will backfire and those that provide supply to meet demand will be rewarded.

These moves only work in markets that are restricted by government regulation. Such regulation encourages bribers and bribees. You get one and two or three more spring up to do the same thing. Get off the treadmill, remove the *source* of the problem - government intervention.