Texas: America’s Lab for Bad Policy, Part Infinity

Grifters Gotta Grift

The Best Little Whorehouse in Texas is going to be reclassified as a documentary after this (emphasis mine):

Some on Wall Street Profited off Texas Blackouts. In a Private Call, a Top Regulator Pledged He Would Try to Protect Their Windfall.

[W]hile many Texans last week were worried about sky-high electric bills from February’s winter storms, the state’s sole utility commissioner was privately reassuring out-of-state investors who profited from the crisis that he was working to keep their windfall safe.

Texas Monthly has obtained a recording of a 48-minute call on March 9 in which Texas Public Utility Commission chairman Arthur D’Andrea discussed the fallout from the February power crisis with investors. During that call, which was hosted by Bank of America Securities and closed to the public and news media, D’Andrea took pains to ease investors’ concerns that electricity trades, transacted at the highest prices the market allows, might be reversed, potentially costing trading firms and publicly traded generating companies millions of dollars.

Texas Monthly updated their story at the top of the article:

Update: On Tuesday night, PUC chairman Arthur D’Andrea, who was appointed chairman by Governor Greg Abbott less than two weeks ago, has resigned. In a statement, Abbott said, “Tonight, I asked for and accepted the resignation of PUC Commissioner Arthur D’Andrea. I will be naming a replacement in the coming days who will have the responsibility of charting a new and fresh course for the agency. Texans deserve to have trust and confidence in the Public Utility Commission, and this action is one of many steps that will be taken to achieve that goal.”

I can hardly wait to see what kind of Libertarian grifter Abbott is going to nominate to replace the former Libertarian Grifter. And in the meanwhile, no one is working to harden their electric grid for the next weather-related event, whatever it may be, and Abbott certainly will do nothing about having only one TPUC commissioner: easier to bribe only one, dontcha know.

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5 Responses to Texas: America’s Lab for Bad Policy, Part Infinity

  1. sos says:

    I wonder if any TX citizens remember their sky-high electric bills from February’s winter storms?

    Of course they will have the chance to just pwn the hell out of the libs by electing the same politicians that helped usher their hard-earned Americos to the waiting arms of “out-of-state investors”.

    So at least they have that going for them. Which is nice.

    Liked by 1 person

  2. Sirius Lunacy says:

    Tonight, I asked for and accepted the resignation of PUC Commissioner Arthur D’Andrea. I will be naming a replacement in the coming days who will have the responsibility of NOT GETTING CAUGHT!

    Liked by 2 people

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