BlankHowdy Vorts, Home, home on the range, where the deer and the antelope play.. deer being the fleeced and the antelope being the swift. Texas, Our Texas,, where no man's life nor property is safe when the state legislature is in session....
Stage set and curtain opens... TXU of Dallas, a electric utility with a number of coal fired "smokeys' cried to the state for help because they couldn't afford to install scrubbers so the state worked out this deal where the state would issue bonds on the state's nickel to cover the cost of shutting down the plants or cleaning them up. Utilities got to raise rates to cover payment of bonds... ok. so far , so good... except.. the utilities took the money, sold the plants and the new owners cried foul ! no problemo!..Just run it past the bond market again.. and again.. until every buck has been wrung outa the deal. Last week, TXU was " acquired" " privatized" by an " enterprise" led by KKR and Texas Energy partners. Leading up to the acquisition was lotsa heat from the environmentalist that demanded they agree to clear up the stacks. Well, to make a long story short.. a few deals were cut and an agreement to close a few worthless plants that were already for the scrap heap.. led to some interesting" profit taking" among the players.. no one knows what role Jesse from Detroit played but it was announced in the news that our esteemed ex sec of state James Baker 111 received ONE MILLION SHARES of the new enterprise for his ability to smile before the camera. hmmm.. was that the guy that was sent to Florida to validate the Bush victory over Gore? No place but Texas.. just read our state motto " Don't mess with Texas" hmmm. Richard
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