Susan Collins And The Enron Loophole
By Sean Reagan
Republican Susan Collins leads Tom Allen in the race to retain her Maine Senate seat. But people are starting to take notice of her vote against the Farm Bill. Yesterday, the Bangor News said that the bill – which Sen. Snowe and Reps. Michaud and Allen supported – included a provision that closed the so-called Enron loophole.
In 2000, the infamous energy trading company Enron sought and won exemption from federal oversight for energy commodity trading. Federal regulatory bodies, in their monitoring and intervention, prevent the price of commodities from being artificially inflated beyond real market dynamics. The loophole allowed excessive speculation and energy price manipulation, according to advocates for regulation.
Good call voting to leave that one open, huh?
Maybe it’s me, but if I were fighting for my Senate seat I wouldn’t want my name and Enron showing up in the same few paragraphs. Especially in the state’s largest newspaper.
Posted on May 28th, 2008 by seanreagan
Filed under: Senate Races