Timeline July 18, 2009
TVA booster Sen. Alexander envisions a bigger TVA?
July 18, 2009
Sen. Lamar Alexander, ever the cheerful warrior, lays out his 20-year vision for the TVA. It’s all electric. Isn’t that what started the whole underpriced, oversold and zealous marketing of TVA electricity in the first place?
So he thinks it’s a good idea for Tennesseans to not be the number one users of electricity, per capita, in the nation. Humph, it was the good senator’s enabling policies as long as he has been on the Tennessee scene to pump up TVA, a federal agency, as if it belonged to the people in TN and that they somehow are deserving of cheap electricity.
He now patronizes the people by offering some kind of panacea, a carrot in the future, if he can just get by this next election. His preachments sound eerily like another presidential candidate last year who promised everything but a new car in every garage, but wait, he’s already set a path for that. Well, at least for all Americans to own stock in America’s automobile industry.
Funny, but that is exactly what Sen. Alexander is advocating in a bill co-sponsored by Bob Bennett of Utah, that is, to return to every tax paying American citizen yearly dividends from GM and Chrysler stocks. GM’s liquidation stock as of July 17th hovered around 45 cents per share from $40 a share not long ago.
Maybe Treasury will issue some IOU’s that may be as worthless tomorrow as they would be today. The state of California is trying to peddle IOU’s at a hefty 3.75% interest rate, but California’s largest banks are not buying them. And California is only $26 billion in the red.
The federal government running the auto industry (“Government Motors”)? They have about as much experience in that as do TVA’s board of directors in running a utility. None.
TVA abundantly proves the case that the government cannot run anything, yet Sen. Alexander staunchly supports the TVA as does his senatorial cohort Bob Corker.
In my research of the TVA for several years I have uncovered enough smelly stuff, I’m sure there’s much more, to warrant a thorough federal investigation of TVA’s management and policies. I’ve heard from quite a number of people who have been affected badly by the TVA. I know there are many more out there but the fear factor seems much too strong to reveal what’s under the first rock.
Sen. Alexander’s plaint is similar to Rep. Barney Frank’s who as you know was a major player in the sale of homes to unqualified buyers with disastrous effect on the U.S. economy and who now wants to fix his own bedevilment. (See Fannie Mae and Freddie Mac). Innocently, of course.
The history of TVA is one of federal paternalism of the highest order and it is so ingrained in the Tennessee Valley culture as not to be effaced for generations.
Ernest Norsworthy
emnorsworthy@earthlink.net
http://norsworthyopinion.com
P.S.
If TVA continues to buy up “distressed” power plants, is there a limit to TVA’s expansion? Already the “fence” has grown another 300 miles in two years. Sounds like the 1930s all over again.
EN
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