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:
“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)
“There is no scandal like rags, nor any crime so shameful as poverty.”
—George Farquhar (1678–1707)
“A famous theatrical actress
Played best in the role of malefactress.
Yet her home-life was pure
Except, to be sure,
A scandal or two just for practice.”
—Anonymous.