no such file to load --initializer

Hi all,
issuing the command "$rake gems" in a rails-application folder leads
to the error "no such file to load -- initializer"
I am on centos5.2, ruby 1.9.2.p0, rubygems 1.3.7, rails 3.0
irb -> require 'rubygems' => false

echo $GEM_PATH leads to /usr/local/lib/ruby/gems/1.9.1
gem environment leads to

RubyGems Environment:
- RUBYGEMS VERSION: 1.3.7 - RUBY VERSION: 1.9.2 (2010-08-18 patchlevel
0) [x86_64-linux] - INSTALLATION DIRECTORY: /usr/local/lib/ruby/gems/
1.9.1 - RUBY EXECUTABLE: /usr/local/bin/ruby - EXECUTABLE DIRECTORY: /
usr/local/bin - RUBYGEMS PLATFORMS:

- ruby
- x86_64-linux
GEM PATHS:
/usr/local/lib/ruby/gems/1.9.1
GEM CONFIGURATION:
:update_sources => true
:verbose => true
:benchmark => false
:backtrace => false
:bulk_threshold => 1000
REMOTE SOURCES:
http://rubygems.org/ gem itself works

Rails 3.0.0, Railties 3.0.0, Rake 0.8.7 via gem install gives no
error.

rake gems --trace

rake aborted!
no such file to load -- initializer
<internal:lib/rubygems/custom_require>:29:in `require'
<internal:lib/rubygems/custom_require>:29:in `require'
/opt/lampp/htdocs/clockingit/config/boot.rb:55:in `load_initializer'
/opt/lampp/htdocs/clockingit/config/boot.rb:38:in `run'
/opt/lampp/htdocs/clockingit/config/boot.rb:11:in `boot!'
/opt/lampp/htdocs/clockingit/config/boot.rb:110:in `<top (required)>'
<internal:lib/rubygems/custom_require>:29:in `require'
<internal:lib/rubygems/custom_require>:29:in `require'
/opt/lampp/htdocs/clockingit/Rakefile:4:in `<top (required)>'
/usr/local/lib/ruby/gems/1.9.1/gems/rake-0.8.7/lib/rake.rb:2383:in
`load'
/usr/local/lib/ruby/gems/1.9.1/gems/rake-0.8.7/lib/rake.rb:2383:in
`raw_load_rakefile'
/usr/local/lib/ruby/gems/1.9.1/gems/rake-0.8.7/lib/rake.rb:2017:in
`block in load_rakefile'
/usr/local/lib/ruby/gems/1.9.1/gems/rake-0.8.7/lib/rake.rb:2068:in
`standard_exception_handling'
/usr/local/lib/ruby/gems/1.9.1/gems/rake-0.8.7/lib/rake.rb:2016:in
`load_rakefile'
/usr/local/lib/ruby/gems/1.9.1/gems/rake-0.8.7/lib/rake.rb:2000:in
`block in run'
/usr/local/lib/ruby/gems/1.9.1/gems/rake-0.8.7/lib/rake.rb:2068:in
`standard_exception_handling'
/usr/local/lib/ruby/gems/1.9.1/gems/rake-0.8.7/lib/rake.rb:1998:in
`run'
/usr/local/lib/ruby/gems/1.9.1/gems/rake-0.8.7/bin/rake:31:in `<top
(required)>'
/usr/local/bin/rake:19:in `load'
/usr/local/bin/rake:19:in `<main>'

Application clockingit

Any hint where to search further would be apricated
Thanks in advance
Andreas