Arnold Schwarzenegger's Political Story
In 1990s, California, headed by Gov. Davis introduced Power Exchange (PX) program - deregulation of market for price competition and transparency. This was lobbied by Enron.
Enron, power generators and George Backus, a consultant with Perot Systems (who developed the systems to manage PX) explored loopholes to artificially +/- production of electricity, leading to state wide blackouts and high volatility in prices. Enron secured $1.7 billions in profits. Prices rocketed off - leading to “California Power Crisis of 2001”. Govt. agreed to pay $47 billion to purchase electricity at a 20 year contract - a huge loss.
All this went very bad for Gov. Davis which paved the way for Arnold to take over and win the California elections in 2003.