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Technology Stocks : The *NEW* Frank Coluccio Technology Forum

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To: axial who wrote (8573)	12/31/2004 6:50:28 PM
From: Raymond Duray	Read Replies (1) of 46821

Jim, Re: "bookouts" at the Bonneville dam.. You had me so intrigued by this language that I had to read the backgrounder you provided. Soon enough, I discovered that the issue revolved around the Bonneville Power Administration (BPA)'s Orwellian bookkeeping and no some new form of electrical genereration lapse at the Dam itself. BPA got its (soft breast tissue) in a wringer during the crazed days of Enron-style gambling by basically selling way more power than it could produce. There's a famous old Wall Street expression that pretty well expresses the conundrum they found themselves in, "he who sells what is'n his'n, must make it up or go to prison." The whole "bookout" issue strikes me as simply being part and parcel of the same sort of financial legerdemain that has lately humbled Franklin Raines over at FNMA (Fannie Mae). The BPA is one of the least public and least transparent public agencies in the nation. It's one of the major public assets in America that the GOP and their corporate marauders have their sights set on for grand larceny, aka "privatization". Once all the privatizing fun is over in Iraq, eh?

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