A Little More On Utility Cooperatives

Looks like Zero Hedge has at least one reader. After the NRUC story was published (and contrary to some amusing opinions, Zero Hedge is not a hedge fund nor is talking its book... we would love that to be the case seeing the reaction in NRUC CDS plus the name Zero Hedged Capital sounds oddly attractive), first Goldman picked up on it, now Gimme Creddit seems to be chiming in. The link to their report is here (we hope they do not mind the free advertising). In essence they reiterrate our caution. As always, buyer (or seller) beware.