Enron did not bother to warp the power *market* in California, it actively utilized the California energy *regulators* to maximize profits.

One reason that Enron folded so quickly, as opposed to WorldCom, is that Enron had almost no actual capital goods. Enron consisted almost entirely of government contracts and mercantilist regulations that benefited its position. It didn't actually produce anything.

Once government support for its efforts evaporated, so did Enron. The "market" worked perfectly to eliminate an inefficient organization.