Jeff knew full well what he was walking away from. Again, he needed to deal with this right away.

The problems in California have been that it's been very difficult to site and build new power plants.

I have faith in the market when we get the rules right.

I take responsibility for what happened at Enron, both good and bad. But I cannot take responsibility for criminal conduct that I was unaware of.

Every market is in transition.

They can't do without electricity. They can do with less electricity.

The transmission systems are still regulated.

Well, rates would go up whether you deregulate or not, and of course, the rates that are going up right now on the electricity side are still within the regulated framework.

We see ourselves as first helping to open up markets to competition.

The last thing I would have ever expected to happen to me in my life would be that, in fact, I would be accused of doing something wrong and maybe even something criminal.

We use competitive markets to arrange for delivery of our food supply.

I always took my role as a leader, and certainly chairman and CEO of a major company very seriously as to our employees and trying to create opportunities for them and create opportunities where they could even, as I said many times, could realize their God-given potential and maybe realize more potential than even they realize they had.

But certainly I didn't know he was doing anything that was criminal.

I mean, our primary businesses in wholesale pipelines, utilities, retail, were all doing extremely well.

Investors don't like uncertainty.

I've been a strong financial and political supporter of, first, President Bush Sr. when he was running for president, and even when he ran for president a time or two and failed.

Trillions of dollars every day are being exchanged around the world in all of the financial markets.

But indeed a market like California is not good for Enron.