During the last two decades deregulation and restructuring were widely expected to transform the nation's energy industries, bringing more competitive pricing and abundant, reliable energy to the public. Instead, consumers and investors in the post-Enron era have suffered losses measured in the billions, attributable to market-rigging, accounting fraud, and business plans that were doomed to failure. In this in-depth look at the latest era of greed, the author explains how the leaders of these companies schemed, collaborated or ignored the obvious signs that signaled the oncoming failures of well-established energy companies. Key Features: * What reforms are necessary in corporate accounting and reporting * The consequences of corporate boards that blindly rubber-stamp company policies * Insight into poorly designed deregulation and the nightmare consequences for the public
Jeremiah D. Lambert, a partner in Shook, Hardy & Bacon L.L.P., Washington, D.C., is a nationally recognized lawyer representing clients in the energy industry, including PJM Interconnection LLC. In recent years, he has focused on issues presented in connection with the restructured electric power market and has served as an advisor to the NYMEX in connection with electricity futures contracts. Mr. Lambert is a magna cum laude graduate of Princeton University and a member of Phi Beta Kappa, was a Fulbright Scholar at the University of Copenhagen, and is a graduate of Yale Law School, where he was an editor of the Yale Law Journal. He is a member of the District of Columbia and New York bars and is a biographee in Who's Who in America.