California's victimsA desperate governor has good reason to overplay Federal Energy Regulatory Commission findings of market manipulation during California's energy crisis of 2000-01. The rest of the country shouldn't be fooled.The FERC staff on Mar. 26 issued a complex report describing apparently deceitful practices by traders of natural gas and electricity bound for California. Gov. Gray Davis quickly claimed vindication, saying, "FERC has finally recognized what we in California have known for a long time: that we were a victim of market manipulation and illegal gaming."False reportsThat some traders in California's energy market broke rules and lied for profit seems c...

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