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Edison's San Onofre settlement mirrors bailouts of banks
Edison's San Onofre settlement mirrors bailouts of banks

The concept of a corporation "too big to fail" is typically applied to big banks, usually as an explanation of why they haven't been brought to book for their role in the 2008 crash and why their top executives still roam free through corporate suites and across country club fairways. But the proposed settlement recently reached by consumer advocates and Southern California Edison over the San Onofre nuclear plant fiasco shows that utilities, too, can be too big to fail. On balance, the settlement is a good deal for Edison customers, or ratepayers. But that's mostly by comparison to how much Edison wanted to squeeze from the ratepayers for its utter mismanagement of that monumental bust on...

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