Message-ID: <29997386.1075858885668.JavaMail.evans@thyme> Date: Sat, 18 Aug 2001 06:48:58 -0700 (PDT) From: j..kean@enron.com To: rob.bradley@enron.com, kenneth.lay@enron.com Subject: FW: Reply to Paul Krugman's column (Enron Goes Overboard, August 17) Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: quoted-printable X-From: Kean, Steven J. X-To: Bradley, Rob , Lay, Kenneth , 'stelzer@aol.com', Palmer, Mark A. (PR) X-cc: X-bcc: X-Folder: \SKEAN (Non-Privileged)\Kean, Steven J.\Sent Items X-Origin: Kean-S X-FileName: SKEAN (Non-Privileged).pst I got fed up with Krugman . . . sent this out this am. -----Original Message----- From: =09Kean, Steven J. =20 Sent:=09Saturday, August 18, 2001 8:45 AM To:=09'tang@nytimes.com'; 'letters@nytimes.com' Subject:=09Reply to Paul Krugman's column (Enron Goes Overboard, August 17) =09Paul Krugman has made frequent negative references to Enron and its mana= gement in his New York Times column over the last twelve months. I have re= frained from responding until now. Below (and in the attached in Word form= at) is a letter I hope you will print. If you wish to contact me, you can = call my office (713.621.6550) or page me (888.906.9761). Thank you for you= r consideration. Steven J. Kean Executive Vice President and Chief of Staff Enron Corp. It's hard to tell what motivates Paul Krugman's frequent attacks on Enron (= "Enron Goes Overboard" August 17). His latest attack is no more than a str= ing of misstatements and non-sequitors reminiscent of a schoolyard taunt. = He reveals, in depth, his ignorance of Enron, the people who work here, and= the tragically botched California regulatory regime. Perhaps he seeks mer= ely to entertain. =09The broader goal of his personal attack appears to be to discredit the f= ree market system - a system that entrusts people to make choices and enjoy= the fruits of their labor, skill, intellect, and heart. He would apparentl= y rely on a system of government controlled or sponsored monopolies to make= choices for people. We disagree, finding ourselves less trusting of the i= ntegrity and good faith of such institutions and their leaders. Ironically= , the example Krugman cites of "financialization" run amok (the electricity= market in California) is the product of exactly his kind of system, with a= ctive government intervention at every step. Indeed, the only winners in t= he entire California fiasco were the government owned utilities of Los Ange= les, the Pacific Northwest, and British Columbia. The disaster that squand= ered the wealth of California was born of regulation by the few, not by mar= kets of the many. So long as Krugman's elitist reasoning prevails, we are = doomed to repeat such mistakes. Steven J. Kean Executive Vice President and Chief of Staff Enron Corp. =20