Wall Street investors bet against Texas energy sources and lost. Now Energy Future Holdings is heading toward bankruptcy and is likely going to be looking for a bailout.
Make sure that the Texas Legislature knows that the people of Texas do not support another corporate handout.
At a time when so many families are struggling to provide for themselves, it's not fair to make ratepayers foot the bill for a hedge fund's bad business decision.
Dear Texas Legislators,
We strongly urge you to oppose any bailout for Energy Future Holdings or its subsidiaries. The investors that engaged in the leveraged buyout that lead to the financial woes of the company did so with full knowledge of the risk they were taking. At a time when Texas families are struggling to provide for themselves, it is wrong to make them foot the bill for wealthy investor's bad business decisions. We urge you to take any steps necessary to protect the interests of the State of Texas and its people in case Energy Future holdings or any of its subsidiaries go bankrupt, but not to give them a bailout. Don't manipulate the market.
I'm adding my name to the list of Texans who oppose public and ratepayer-funded bailouts of Wall Street and private equity firms.