Meawhile, on Wall Street...https://www.barrons.com/articles/pg-e-stock-slumps-after-judge-rules-bondholders-can-propose-bankruptcy-plan-51570711538 …
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Replying to @bedwardstiek
Kim-Mai Cutler Retweeted Jared Ellias
@jared_ellias had a thread on this yesterday:https://twitter.com/jared_ellias/status/1182148093166284800 …Kim-Mai Cutler added,
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Replying to @kimmaicutler @jared_ellias
Right, but I had no idea their actual re-org plan falls apart if they start a fire!
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Replying to @bedwardstiek @jared_ellias
Kim-Mai Cutler Retweeted Jared Ellias
if we made them a public utility, we as a body politic would then have to have the conversation about whether we want to insure people living in parts of California that will regularly burn down more and more.https://twitter.com/jared_ellias/status/1182163688523886593 …
Kim-Mai Cutler added,
5 replies 2 retweets 38 likes -
Seems like whether there are people tehre or not, we don’t really want to be starting massive forest fires due to flailing infrastructure. or am i missing something about how that wouldn’t need to change?
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the people living there is part of the problem. The homes are the fuel.
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Replying to @kimmaicutler @JimYoull and
If the state took over PG&E, taxpayers would be fully on the hook for all wildfire liability w/no protection via bankruptcy. It would be the epitome of lemon socialism - transferring a loss-making business from private to public sector and forcing the govt to incur those losses.
4 replies 3 retweets 14 likes
I like this point except for the phrase "lemon socialism" since we entrust the government to provide public goods, which are often financially unviable in private markets.
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Replying to @kimmaicutler @rcollier and
Seems like electricity is one of those things, since the market has failed
0 replies 0 retweets 1 likeThanks. Twitter will use this to make your timeline better. UndoUndo
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