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Letters: California's electricity, Wall Street's game

July 20, 2012

Re "Gaming of energy market jolts consumers," Column, July 18

Michael Hiltzik again throws light on the dark side of American enterprise.

JPMorgan Chase & Co. should be forced to repay California for revenue it gained by manipulating regulations on energy markets. If the "smart people" in that organization have nothing better to do than cheat, maybe they should be sitting in a federal prison and not in some Wall Street office.

If corporations possess the right of free speech, then on the flip side, they should not be allowed to shield individuals within their ranks who game the system. As Hiltzik so ominously tells us, this is just the tip of the iceberg.

Gloria J. Richards

Simi Valley

Hiltzik's column was an eye-opener. After reading it, I'm doubly glad that I made the decision to install a solar system that covers all my electricity requirements. Until the parasites that run the commodities markets figure out a way to trade the photons emitted by the sun, I'm somewhat insulated from the abuses Hiltzik described. Then again, maybe I shouldn't be too complacent.

Jon Rowe

Costa Mesa

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