The state budget issues are serious. And the U.S. debt and deficit issues are serious too. But I’ve ignored the “debt ceiling” and “state bankruptcy” discussions for a reason – they are nonsense.
Abelson on robo-signers last week:
“Truth is, bankers just can’t stand prosperity, even after their near-death experience of a couple of years ago, when so many of them, emphatically including the gargantuas, were kept alive only by grace of rich Uncle Sam generously ladling out our tax dollars. The nub of the problem were the lads and lassies assigned by the banks to review the mortgages and swear to the courts that everything was jake, as required by law before foreclosure received the necessary judicial blessing. They cheerfully signed affidavits to that effect, typically without bothering to actually review the documents or even having the faintest notion of what they were supposed to do.
Now their money is on the GOP.