Letter to the editor from Jeffrey Stewart
Who is Harry Arora? With a simple Google search here are the facts. From 1995-2002, Mr. Arora worked his way up to Vice President at Enron. Following Enron’s bankruptcy, due to one of the biggest financial scandals in US history, he joined Amaranth Advisors from 2002-2006.
Amaranth collapsed after charges of manipulation of natural gas prices and irresponsible trading in September 2006.
Arora had just left the firm in March of that year.
Let’s be clear. I am not suggesting that Mr. Arora was responsible for the accounting fraud, corporate mismanagement or insider trading that brought down both firms. However, Mr. Arora, with other top executives at Enron, received an accelerated distribution just before the firm declared bankruptcy. Ultimately, he had to repay those funds.
How have we in Connecticut been affected by the Enron debacle? Enron successfully lobbied to deregulate the energy market prior to 2000. The Consumer Counsel found that third party energy suppliers have overcharged Connecticut residents roughly 200 million dollars from 2015-2018 alone. Instead of reducing energy costs to consumers, deregulation has increased our costs.
Mr. Arora was employed at Enron until the bitter end. As a vice president in the energy trading area he surely understood the ramifications to consumers of a deregulated energy market. And yet, in his campaign literature, he states Connecticut imposes “onerous regulation on businesses.”
While in certain cases this may be true, I lack confidence in Mr. Arora to recognize the difference between what is onerous and what is needed to protect consumers. Therefore, I believe it is fair to question both his judgment and his integrity.
It is noteworthy that during his years in Greenwich, Mr. Arora has never served on any boards, commissions or legislative bodies in town.
Until May of 2016, he was a registered Democrat.
In October of 2017 he went from Unaffiliated to Republican in order to run against Jim Himes. I hate to say it, but this smacks of opportunism over principle.
I will be supporting Cheryl Trepp Moss. During her long history in Greenwich she has demonstrated through her volunteerism, work in education and RTM commitment that she will do us proud in Hartford. I urge you to vote for Cheryl for State Representative for the 151 st Congressional District.
NOTE: Deadline for letters to the editor for the Jan 21 special election for State Rep District 151 is Jan 14, 2020 at 5pm.