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.

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

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

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

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

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

The transmission systems are still regulated.

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

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

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 indeed a market like California is not good for Enron.

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.

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.

Investors don't like uncertainty.

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

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.

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

Every market is in transition.