I recently had to reformat my Macbook Air due to a sleepimage issue when connecting to a power source. I am running OSX 10.8, so to install Fink 0.34.5 I had to install from source. There is a missing step that many OSX 10.8 users may not be aware of, Fink needs the Java SDK installed prior to running the bootstrap command. If your Mac is connected to a Internet connection, an easy way to install the Java SDK is by running javac from terminal.
Once you run this command, you will be prompted with a GUI message asking if you would like to download and install the Java SDK from Apple servers.
Voila! Now kick off the bootstrap command and you are ready to start compiling Fink. Further directions on how to install Fink with OSX 10.4 and later can be found here. I found this tip by heading over to http://firstname.lastname@example.org/msg26480.html.