More evidence of Enron fraud

While it's hard to get really worked up over utility regulation and corporate fraud trials, newly-revealed records of conversations and messages among Enron energy traders contain juicy tidbits. For example:

In May 1998, an internal Enron memo between energy traders
makes reference to a "PHONY import." The note also says California's independent
system operator "will call and tell us we're out of balance, so tell them we intend
to correct the imbalance in the 'hour-ahead' market. In fact, we really intend to
do NOTHING..."

In another scheme, believed to have been nicknamed "Project Stanley" in honor of
the Stanley Cup hockey trophy, Enron traders in Alberta conspired with other
companies to artificially inflate energy prices in Canada in 1999. References
to "Project Stanley" were discovered on former Enron Chief Executive Jeffrey
Skilling's calendar on at least two dates, and recorded phone conversations between
project leader John Lavorato and Enron trader Tim Belden show they knew the
scheme -- similar to those later used in California -- was illegal.

Lavorato: "I'm just, ah, (expletive), I'm just trying to be an honest camper
so I only go to jail once."

Belden: "Well, there you go. At least in only one country (laughs)