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Strategies & Market Trends : John Pitera's Market Laboratory
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To: Raymond Duray who wrote (6292)6/14/2002 7:46:33 PM
From: Sam  Read Replies (1) of 33421
 
<<"I don't think energy traders should be inventing new
phrases for the English language. We have perfectly good phrases already."

In an extensive report last month, Moody's criticized the lack of clarity in financial
reporting throughout the merchant energy business. The ratings agency called for a
massive overhall of the entire sector, strongly suggesting that energy traders seek
out creditworthy partners both inside and outside the industry.

With its power to withhold investment-grade ratings -- considered crucial in the
capital-intensive energy trading business -- Moody's caught the full attention of its
target audience.

Craig Goodman, president of the National Energy Marketers Association, called
the Moody's report "very well written but also very frightening." He said his
organization's primary mission is to restore American confidence in the energy trading sector so that the country can move forward and realize the benefits of deregulated energy markets.>>

I just can't help but think of one of the greatest movies ever that expressed the meaning of the 90s, even though it was made about 40 or 50 years earlier, "The Treasure of Sierre Madre". I'm sure everyone remembers this line:
"Clarity? Clarity? We don't got no clarity. We don't need no stinkin' clarity."

And the bags of gold at the end blowin' in the wind, with Howard laughing his head off at "Mother Nature's great joke."

Sam

P.S. Ray, you were really off base earlier on Robert Douglas. I've known him cyberly for years now. He is a very thoughtful, decent guy.
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