Posts Tagged ‘California’

What California Tells Us About Future Unemployment Rates

Take a look at these two graphs. The first is the unemployment rate for California since 1980. The second is the national unemployment rate for the same period. Do you notice anything peculiar about the relationship to unemployment in California versus unemployment in the U.S. as a whole? If you look closely, you can see […]

California Refuses To Clean Up Its Own Mess

Get ready to open your wallets, Americans. The State of California needs your support.  This from Fox: A slate of California state ballot measures backed by Gov. Arnold Schwarzenegger in an effort to close a massive budget deficit appeared set for defeat, according to projected results reported Tuesday. The projections showed five of the six […]

California Wants TARP Money-When Did It Become A Bank?

Somehow I missed the news about California being granted bank holding company status. California Treasurer, Bill Lockyer, is petitioning the Treasury for a bailout. From MarketWatch: California Treasurer Bill Lockyer asked U.S. Treasury Secretary Timothy Geithner on Wednesday to authorize assistance for his state from the federal Troubled Asset Relief Program, warning that depressed tax […]

Should We Bail Out California?

California is now in the market for a government guarantee. The state needs to sell $13 billion of short-term notes and no bank will touch them.  Before the credit crisis banks would routinely provide credit support for states and municipalities that needed to raise short-term credit. As you know, banks have rediscovered the concept of […]

Californians Whining About The Obama Refi Plan

Anyone care to bet how long it takes the Obama administration to expand the guidelines under their refinance plan? Amid concern that many Californians would not qualify for assistance from the federal anti-foreclosure plan, a powerful state legislator called on the Obama administration to make more homeowners eligible. The plan limits federal refinancing assistance to […]

California Will Lead Us To The Promised Land

As if the country didn’t have enough on its plate, we get this little bit of news. Yahoo reports that the influence of California both within the Obama administration and in both houses of Congress is going to be substantial. Though it’s a little hard to take, here is a sample of the hyperbole: Perhaps […]