The masterminds of history's biggest leveraged buyout wrongly bet that stable Texas electricity prices would pay off Energy Future Holdings Corp.'s $35 billion debt. Even as it hurtles toward bankruptcy, Energy Future continues to wield immense power. Contributors tied to Energy Future have invested $2.4 million in Texas elections just since 2009; Governor Perry is the No. 1 beneficiary. As the governor's Utility Commissioners approve measures that jack up Texas electric bills, they are fueling rumors of a crude gubernatorial attempt to bail out Energy Future.
It all makes for one electrifying new edition of TPJ's Lobby Watch.
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