CPN: Calpine Corporation Message Board

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Gold/Mining/Energy : CPN: Calpine Corporation

FRO 23.76

+0.1%

1:44 PM EST

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To: Bob Rudd who wrote (311)	2/18/2002 6:23:54 PM
From: Raymond Duray	Read Replies (1) of 555

Hi Bob, Re: I'm wondering if the DOE wakes up one day and realizes that the cancellation of pipelines like this and generating plants due to the tight credit leash is going to lead to another California style squeeze down the road. Only if they are still drinking the Enron Kool-aid. The California squeeze had absolutely nothing to do with generating capacity. It occurred while the state was at 60% of maximum generating capacity. The whole thing was a fraudent scheme. Re: Maybe they decide it's good public policy to help outfits like Calpine with a little credit reassurance. Bob, let me be the first to suggest this is fantasy. This simply cannot occur in this current environment of skepticism in the capital markets. Calpine is a busted stock. It's "story" has been blown completely out of the water. This is, at best, a lousy investment for the next 8 years. Potentially, it is much worse. -Ray

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