Chicago Observer: Wall Street should get one spin, lawmakers another, Exelon finds.

Byline: steven r. strahler

Exelon Corp. rebuked its own president last week for bad-mouthing another utility-one from which Exelon just happens to be negotiating the purchase of Illinois Power Co. Frank Clark, urging quick regulatory approval by Illinois legislators, had said in a conference call that Illinois Power's parent, Houston-based Dynegy Inc., couldn't stand much deliberation. "This is a company that's borderline bankrupt,'' he declared.

The next day, Exelon deemed Dynegy to have "adequate liquidity.'' A press release added, "A contrary suggestion