Dear Everyone;
While it is obvious how the actual LPSF recommendation vote will go on Prop H a clarification is in order. While Prop H has specific provisons in it to issue bonds these are revenue bonds. Revenue bonds by law must have an identifiable source of revenue to pay off the bonds. In this case the PUC could issue bond after bond identifying the gas and electric ratepayers as the source of the revenues.
Hence the bombardment of brochures to all you registered voters from PG&E about unlimited rate increases by the PUC aka the Board of Supervisors. While PG&E is using hysterical claims about the $4 billon buyout with PG&E as its target it's the same old same old political ploy of there's a monster under your bed and in this case it's the PUC as controlled by the Board of Supervisors.
FDR said it best after Pearl Harbor: There is nothing to fear but fear itself.
For the PUC to issue $4 billion in buy out bonds to buy out PG&E would be a fatal error on the part of Supervisors controlled PUC. As there would be numerous lawsuits to estop. Plus if they actually did issue those bonds PG&E could buy those bonds to buy themselves out and get their money back plus interest. 
Or if the "progressive" supervisors really wanted to do this they could form a private stock issue corporate entity and call it SF Gas & Electric get enough stock buyers to raise the capital needed to buy out PG& E.
Overall Prop H is a wolf in sheeps clothing disguised a green issue. In this case the green is a pure yucky moldy green like something left over in the fridge growing in the darkness waiting to leap out and eat your face when you open the fridge door.
Ron Getty - SF Libertarian
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