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Republicans and California

A quick update on the California melt down. The California Senate Republicans have now ousted their leader who has apparently committed the treachery of trying to reach a compromise budget so that the State could survive. His departure after only seven months on the job is an illustration of how little sense there is in […]

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Greenspan: Nationalize Those Banks!

As reported in today’s Financial Times, Alan Greenspan whose conservative credentials are impeccable argues for the nationalization of banks: FT.com / US / Politics & Foreign policy – Greenspan backs bank nationalisation Now, if people like Greenspan and Senator Graham, neither of whom would I call liberal let alone socialist, are calling for nationalization of […]

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California: Into Oblivion?

I don’t think it is possible to make this story worse. California is on the brink of financial collapse. It is so close to the precipice that each day is now vital for its economic survival. California has long had a peculiar and toxic public finance record. After all Orange County went bankrupt a few […]

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