How financial terrorists are stealing from us via asset sales ie deregulated power and water
Stacey Herbert: Houston consumers were supposed to get lower electricity rates from deregulation instead Max, they pay some of the nations highest prices, partly because of bonds Goldman Sachs Group recently sold for a local utility. (the utility became a paper asset represented by bonds) The Wall Street bank marketed $1.7billion of securities for Houston-based Centerpoint Energy they sold a triple-A utility like a B-aaa deal.
Max Keiser: They are taking utilities, which for the longest time were regulated as a way of keeping to keep the cost of business cheap. Look, the Chamber of Commerce in America would want the cost of energy for a utility to be as cheap as possible to keep business growing. But allowing the deregulated financial terrorists from Wall Street to come in an deregulate the energy business now means the cost of energy is going to skyrocket. This is why the United States (AND QUEENSLAND) is being bled like a stuffed pig just like Greece is.
Bloomberg news service: The sale by Goldman Sachs in Texas showed how deregulation backfired, driving up costs for those promised savings. Texans paid some of the lowest rates in the country before the changes, according to the US Energy Administration. Now they pay the fifth highest electricity prices. The shift towards competition has also misfires in other states including California.