Quotes from Kenneth Lay

Every market is in transition.

The transmission systems are still regulated.

It's been very interesting. We've seen a lot of interesting testimony. We've seen a lot of interesting people, a lot of allegations, a lot of lies, a lot of misinformation and some truth.

Today, there are also buyers and sellers of all these energy commodities, just like there are buyers and sellers of food commodities and many other commodities.

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

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

When there's uncertainty they always think there's another shoe to fall. There is no other shoe to fall.

Investors don't like uncertainty.

There are absolutely no problems that had anything to do with Jeff's departure.

There are no accounting issues, no trading issues, no reserve issues, no previously unknown problem issues.

We need someone who is a strong representative of our value system.

Our liquidity is fine. As a matter of fact, it's better than fine. It's strong.

You'd rather have a surplus versus a shortage in your position.

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

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