Squeezed between a shortage of fuel and end-customers who are nearly bust, those private generating firms are now cutting back on vital long-term investment in new plants.

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The company was still generating decent cash flow, cutting costs and paying out a nearly 7% dividend yield.

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In other words, generating green power is a lot tougher than cutting a check for a Toyota Prius and parking it in your driveway.

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We have more specific concerns regarding the fact that in the job-cutting cross-hairs are high-profile Merrill Lynch employees, who were instrumental in generating revenues for Bank of America over the particularly difficult 2008-2011 period.

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Cutting capital-gains tax has marginally more economic credibility: it may liberate some growth-generating investment.

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