The Arnold, Enron and Republican power conspiracy

Greg Palast just published a column in which he posits that Arnold, Enron and the Republican party have a little conspiracy going to get the power companies of out paying $9 Billion in compensation to California. You can read the full story, but the gist of it is that Ken Lay and Arnold were both present in some secret meetings two years ago just after Governor Gray Davis filled suit against the power companies to recoup some of the money that gouged California for. Palast claims that the plan to recall Gray Davis was cooked up so that Arnold to get to power and settle the suit out of court for pennies on the dollar.

I have to say the theory seems to require a long stretch of the imagination, especially because that makes another $9 billion Arnold would have to dig up to get us out of debt. But... if Arnold wins and the power companies promptly get let off the hook, then don't say Greg Palast didn't say so...