Subject: Re: Tom W. Bell paper
From: <>
Date: Mon, 4 Sep 2006 13:20:26 +0900

Thomas Lord writes:
 > Don Marti wrote:
 > > So first Intel, AMD, VIA, Sun would all break out
 > > their energy-efficiency research into separate
 > > securities, 
 > Oh! That would be lovely!
 > Now there's an area where we could use some new
 > contemplation of securities law!

No need whatsoever.  It's already being done, at a much higher level
(departments and functional divisions of large firms).  As Don says,
there are substantial transactions costs which determines a "minimum
effective scale", but the trend is clearly toward securitization of
smaller and smaller parts of firms.