Posted by Richard Adams
Were California to declare bankruptcy, would it get relief from federal mandates?
California is too big to fail. Just the Fed to issue more debt, monetize it and abra cadabra six months of bliss.
Reminds me of the simpsons again. One episdoe Moe was going to have Homer steal his car to collect insurance to keep up with a new girlfriend. Homer said: Wow, all your problems are going to be solved for a couple of months.
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