{"id":545,"date":"2002-05-05T13:51:22","date_gmt":"2002-05-05T20:51:22","guid":{"rendered":"http:\/\/mossback.org\/archives\/2002\/05\/gaming-the-market\/"},"modified":"2002-05-05T13:51:22","modified_gmt":"2002-05-05T20:51:22","slug":"gaming-the-market","status":"publish","type":"post","link":"https:\/\/bennett.com\/blog\/2002\/05\/05\/gaming-the-market\/","title":{"rendered":"Gaming the market"},"content":{"rendered":"<p>\t\t\t\t&#8212; During last year&#8217;s west coast electricity crisis, several generators and power-traders drove prices up by gaming the market. It turns out they were joined by friends in government doing the same thing, according to <a href=\"http:\/\/www.sacbee.com\/content\/opinion\/story\/2515931p-2984188c.html\">Daniel Weintraub:<\/a><\/p>\n<blockquote><p>\nOne problem: The evidence doesn&#8217;t implicate Enron so much as the managers of California&#8217;s electricity grid, whose Folsom-based trader was caught red-handed trying to game the market. In a bizarre twist, it turns out that the state-created Independent System Operator, or ISO, was the one rigging the price of power, not the evil private generators who everyone suspected.<\/p><\/blockquote>\n<p>Libertarians are going to love this.\t\t<\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8212; During last year&#8217;s west coast electricity crisis, several generators and power-traders drove prices up by gaming the market. It turns out they were joined by friends in government doing the same thing, according to Daniel Weintraub: One problem: The evidence doesn&#8217;t implicate Enron so much as the managers of California&#8217;s electricity grid, whose Folsom-based &hellip; <a href=\"https:\/\/bennett.com\/blog\/2002\/05\/05\/gaming-the-market\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Gaming the market&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[4],"tags":[],"class_list":["post-545","post","type-post","status-publish","format-standard","hentry","category-comp"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/pbifyw-8N","_links":{"self":[{"href":"https:\/\/bennett.com\/blog\/wp-json\/wp\/v2\/posts\/545","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bennett.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bennett.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bennett.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bennett.com\/blog\/wp-json\/wp\/v2\/comments?post=545"}],"version-history":[{"count":0,"href":"https:\/\/bennett.com\/blog\/wp-json\/wp\/v2\/posts\/545\/revisions"}],"wp:attachment":[{"href":"https:\/\/bennett.com\/blog\/wp-json\/wp\/v2\/media?parent=545"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bennett.com\/blog\/wp-json\/wp\/v2\/categories?post=545"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bennett.com\/blog\/wp-json\/wp\/v2\/tags?post=545"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}