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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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Open Comment To Simon Johnson

FYI. I posted this comment on Simon Johnson’s blog this afternoon. He had advocated, among many things, a wholesale changing of the guard in bank boardrooms. “Not to annoy anyone, but: Where do we get the new and presumably better directors? Who are they? And who are the new managers? Where will they come from? […]

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Banks … And All That Noise

There is an astonishing amount of verbiage floating around in cyberspace and the regular media about the banking industry right now. Much of it is hysterical nonsense and the creation of hyperactive minds with a conspiracy theoretical bent. And some of that strange stuff is actually flowing from the mouths of hitherto sensible folk. Which […]

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