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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 659.00+1.0%Nov 21 4:00 PM EST
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To: flatsville who wrote (65056)12/29/2000 4:18:11 PM
From: ru2  Read Replies (1) of 99985
 
Grey Davis has been meeting with Alan Greenspan, and also I believe President Clinton. It's been all over the papers here. Grey Davis is caught between a rock and a hard place.
Alternative media is turning out reports that rather than going broke the electric companies made a fortune from deregulation and the profits are in shell companies that they sold the electricity to and then bought the electricity back from at gouge prices. According to these sources the dramatic raise in rates to bail out the electric companies from going broke, is actually a raise in rates to bail them out from having made out like bandits. Nader was also at the meeting at the capital doing a lot of sabre rattling. The Bussiness money that supported Davis is hurting from the huge rise in rates, and that is where Davis is in trouble. He is caught between the Electric companies and his other bussiness supporters. If it were not for this I think we would be hearing a LOT less about the whole issue and the small consumers would simply get stuck with the bill. Since it's hurting the business community I think that the stink is going to get worse before it gets better. Front page articles are saying a %26 increase in electricity prices from the current prices. If there was copy cat deregulation legislation other places in the country ( and I believe there was ) how this turns out here could effect the electric rates throughout the whole country. Maybe this is why Greenspan is paying so much attention to this.

Ru2
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