In its recent efforts to tie up the loose ends left from the California Crisis, is the state setting itself up for a sequel, California Crisis II: A Not So Beautiful Market?

Secretary Spencer Abraham announced that the DOE and the nation’s carmakers would create a public-private partnership to promote hydrogen as a primary fuel for cars and trucks. He didn't mention how much the program would cost, how long it would take, or define what infrastructure the government would develop to support hydrogen transportation.

You have two cows. You sell three of them to your publicly listed company using letters of credit opened by your brother-in-law at the bank. Then, you execute a debt-equity swap with an associated general offer, so you get all four cows back, with a tax-exemption for the fifth cow, of course.