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Tax Riots Aren't Just For Breakfast Anymore

For years it seemed California could pretty much spend itself past drunken sailor levels and tax the stuffing out of everyone to keep the debt payments current. The state's goal to be the leading tax-and-spend municipality was boosted not insubstantially...

We Will Gladly Pay You On Tuesday For A Bloated Pension Obligation Today

California's controller says he will begin a 30-day delay on tax refunds and other payments starting Feb. 1 because the state is running out of money. Controller John Chiang said Friday he must delay $3.7 billion in payments next month...

I See What You Did There

Remember, not too long ago, how much noise Congresscritters were making about "rewarding irresponsible investment bankers"? Well, CNBC has come full circle today. After The Beard was prodded after bailing out state and local governments, since we are in the...

California To Sell Body For Money (U.S. As Crack Whore Understudy) Second Edition

So when Arnie came, hat in hand, begging for like $8 billion dollars to repair the disaster that is California, we snickered a little. Yes, we admit it, we snickered. Ok, ok, municipal bankruptcy is not funny at all. We...

California To Sell Body For Money (U.S. As Crack Whore Understudy)

Am I the only one alarmed by any article that uses California as a predictor for the economic future of any land mass on which I am presently standing? And if that was unnerving, probably more upsetting is the fact...

California To Sell Body For Money

I always knew California was a street beggar waiting to happen. It was that smug "I'm too good for fiscal responsibility" coupled with that "I make so much money might now, I don't have to worry, and people can always...

California Backs Off Hedge Fund Regulation Plan

Opponents of hedge fund regulation scored a win yesterday when California backed away from its plans to regulate hedge funds. Since the registration of hedge funds with the Securities and Exchange Commission was over-turned by the federal courts, several states...