Economic news

OK, so it is obvious to me that the government has no plans to do anything about the banking industry that brought the world economy to its knees about a year ago.

So, with dithering lawmakers unable to do much of anything and Wall Street idiots happily running back to the casino they call employment, do we all just stand back and watch? If we are just going to watch, what should we be watching?

I know, how about the impending bankruptcy of the most prosperous state in the history of the United States? Of course this story is being closely monitored, in London. Click here for a chance to get an idea of what is happening to California.

Better yet, take your time to digest the concept of California going bankrupt with this nugget, the FDIC would like some lender to give people having trouble paying their mortgages a break. Here.

But wait. How about the concept of fighting against financial idiocy with actually regulating idiocy out of the picture? Who would fight such a plan? I wonder.