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To: pater tenebrarum who wrote (71260)	2/23/2001 5:45:05 PM
From: yard_man	Read Replies (2) \| Respond to of 436258

CA is going to try to do a bond issue to temporarily buy power for the summer that is (if I heard correctly on NPR) the biggest issue of its type -- will require multiple underwriters to get done

To: pater tenebrarum who wrote (71260)	2/23/2001 6:01:43 PM
From: Andrew G.	Read Replies (2) \| Respond to of 436258

Heinz, you are a sharp guy. Your words don't fall on deaf ears but... in as much as I agree with you and there is a history to support your view, history does not always repeat itself. If it does, it may come back in a different or similar but not identical form. We know this to be true, because history has shaped our present. Times are different and the cost of living in relation to per capita income is not a threshold of sustenance that it was during the roaring twenties leading up to the Great Depression. I don't think we can sufficiently compare our economy to Japan for various reasons as well. But on principle, rather than on historical comparisons, I still maintain what I said in my previous posting. Namely, that cashflow for consumers (or operating income for companies) rather than level of debt, is the key factor in making or breaking a financial system. Many companies are suffering and some near bankruptcy but as long as they can control expenses, maintain cashflow or raise sufficient capital they can remain in business EVEN if they are chronically in debt. That's why DCX, XRX, LU, etc will continue to survive.