Scandal
On 27 September 2002, the shares of the El Paso Corporation plunged after an administrative law judge at the Federal Energy Regulatory Commission ruled that the company helped illegally drive energy prices to record highs in California between 2000 and 2001 by manipulating gas supplies. El Paso gas trader Todd Geiger was prosecuted by the FERC for falsely making up 48 gas trades. El Paso is now out of the energy trading business.
Read more about this topic: El Paso Corp.
Famous quotes containing the word scandal:
“Certain it is that scandal is good brisk talk, whereas praise of one’s neighbour is by no means lively hearing. An acquaintance grilled, scored, devilled, and served with mustard and cayenne pepper excites the appetite; whereas a slice of cold friend with currant jelly is but a sickly, unrelishing meat.”
—William Makepeace Thackeray (1811–1863)
“We must cultivate our garden.
Furia to God one day in seven allots;
The other six to scandal she devotes.
Satan, by false devotion never flammed,
Bets six to one, that Furia will be damned.”
—Horace Walpole (1717–1797)
“The day the world ends, no one will be there, just as no one was there when it began. This is a scandal. Such a scandal for the human race that it is indeed capable collectively, out of spite, of hastening the end of the world by all means just so it can enjoy the show.”
—Jean Baudrillard (b. 1929)