How ‘Death Star’ and AIG sparked a new era in regulation

Ferc and the CFTC have overlearned the lessons of past crises

Alexander Osipovich
Alexander Osipovich

It is often said that regulators are always fighting the last crisis. In the case of the US Federal Energy Regulatory Commission (Ferc), that crisis is now 15 years old. It was in January 2001 that the California energy crisis entered its most acute phase, with rolling blackouts affecting hundreds of thousands of people across the state.

The reasons for the crisis are complex, but a crucial contributing factor was market manipulation by traders at Houston-based energy trading firm Enron, who ear

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: