Professor Elam

6 responses to “California Dreamin’”

1. 

   LeAnna M Nesbitt

   July 10, 2009

   Meg Whitman, former CEO of E Bay has got it just about right. It’s going to take a person with her philosophy, discipline, and vision to stabilize California into a workable and “Stand Alone State”. At the moment it seems to most people that anything less than total Federal intervention and takeover is the route that California is traveling. Candidate Whitman can create a new style, almost revolutionary that will bring an end to financial causes in California.

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2. 

   Dennis Elam

   July 10, 2009

   Leanna
   Now wait a minute two posts back you were all for the govt taking over banks, autos, etc, infact proclaiming that would be a great model. Now you want Whitman to get tough with CA, which is it?
   It is problematic that private companies will continue to deal with CA as they cannot pay, already India and China and Russia want something other than the dollar as a reserve currency, is CA the future model for the US?

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3. 

   LeAnna M Nesbitt

   July 10, 2009

   There is a difference there…… the relationship with the government with sovereign states and major privately owned corporations like General Motors, AIG, Bank of American, and JP Morgan Chase. There are existing laws that are already established and being followed by the Federal Reserve, which allows them to make actions to stabilize the monetary system which they have done with the tarp money. On the other hand with states they have elected officials to manage the states finances and the legislators of the state have their own responsibility to provide or tax residents to create balanced budgets. Therefore it is not a good thing to have direct government intervention and so there is a slight difference. Companies are not taxing entities and do not have a voter base to develop resources by taxation therefore this is Whitman’s opportunity to govern under state law without government assistance. CA is going to be a model, but not with the federal bail out money.

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4. 

   Dennis Elam

   July 10, 2009

   Laws being followed by the FED????
   The FED was created to prevent financial panics, After its creation in 1913 we have had 1929, 1937, 1958, 1972, 1987, 2000,2008 They rescued Bear Stearns and then let Lehman go under, now that is said to be part of the problem. The FED told the Bank of America swallow Merrill or else, which has come public since then. The FED gets to decide who is too big to fail, Bear Stearns but then Lehman is not, whoops, Where was the FED from 2003-2008, Greenspan is now scorned for his low interest rates and urgin more home building for those that cannot make payments.
   Elected officials to manage the state’s finances, the current Governor was elected under a recall of Gray Davis the last Governor, the state cannot pay its bills, the legislature rejected Arnold’s call for rational voter districts, Meg is running for nomination and it will be a hard fought election.
   Actually companies have voters, they are stockholders.
   The entire Dem party exists because NY state and CA vote Dem, without those two states there would not be a national Dem party, are you telling me Obama will say no to half his voter base? should he do so all the broke cities and states will line up, I honestly do not know what Obama will do.

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5. 

   LeAnna M Nesbitt

   July 10, 2009

   Companies all have stockholders of course.
   Also, there is a problem when a state is broke. The state either has to tax or cut services.

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6. 

   Dennis Elam

   July 10, 2009

   THE irony here is that of course you are correct but the Dems in the CA legislature do not want to cut spending or salaries to unionized govt workers, neither does Obama, and the voters have rejected a tax increase!
   So now what?
   I am extremely glad I am NOT a college professor for the state of CA!!!!!!

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