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

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

Investors don't like uncertainty.

But the most important thing is, Enron did not cause the California crisis.

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.

But I can't take responsibility for criminal conduct of somebody inside the company.

We've tried to get as much supply into California as we can.

Well, rates would go up whether you deregulate or not, and of course, the rates that are going up right now on the electricity side are still within the regulated framework.

But indeed a market like California is not good for Enron.

We see ourselves as first helping to open up markets to competition.

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

The transmission systems are still regulated.

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

I take full responsibility for what happened at Enron. But saying that, I know in my mind that I did nothing criminal.

Any slots at the senior level, including CEO or other slots, will be filled internally.

Every market is in transition.

I have to take responsibility for anything that happened within its businesses.

Am I a fool? I don't think I'm a fool. But I think I sure was fooled.

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

We don't break the law.

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

The problems in California have been that it's been very difficult to site and build new power plants.

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

The last thing I would have ever expected to happen to me in my life would be that, in fact, I would be accused of doing something wrong and maybe even something criminal.

You'll have lower prices under deregulation than you will through regulation.

Jeff knew full well what he was walking away from. Again, he needed to deal with this right away.

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

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

But certainly I didn't know he was doing anything that was criminal.

In the case of Enron, we balance our positions all the time.

Trillions of dollars every day are being exchanged around the world in all of the financial markets.

I don't think I'm a criminal, number one.

I've been a strong financial and political supporter of, first, President Bush Sr. when he was running for president, and even when he ran for president a time or two and failed.

I mean, our primary businesses in wholesale pipelines, utilities, retail, were all doing extremely well.

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

Aggressive accounting does not mean illegal accounting.

Faith means living with uncertainty - feeling your way through life, letting your heart guide you like a lantern in the dark.

The power of the lawyer is in the uncertainty of the law.

Never Have Your Dog Stuffed is really advice to myself, a reminder to myself not to avoid change or uncertainty, but to go with it, to surf into change.

Investors don't like uncertainty.

The problem here is that there will always be some uncertainty about how quickly Saddam can acquire nuclear weapons. But we don't want the smoking gun to be a mushroom cloud.

The basic fault lines today are not between people with different beliefs but between people who hold these beliefs with an element of uncertainty and people who hold these beliefs with a pretense of certitude.

There is no such uncertainty as a sure thing.

If you just watch a teenager, you see a lot of uncertainty.

I believe the most solemn duty of the American president is to protect the American people. If America shows uncertainty and weakness in this decade, the world will drift toward tragedy. This will not happen on my watch.

I don't think we should tell them what we're going to do in advance. Let them think. Worry. Wonder. Uncertainty is the most chilling thing of all.

The substantial uncertainty about the path of asset price movements going forward necessarily reduces the case for altering policy in advance of the move.

Although our intellect always longs for clarity and certainty, our nature often finds uncertainty fascinating.

Uncertainty is a sign of humility, and humility is just the ability or the willingness to learn.