Wasn't what got us into this mess in the first place too much credit? 'Free money' in the vernacular? It's a useful strategy to help regulate the economy I suppose but hardly sounds like good fiscal policy going forward. It's the opposite of going back to a commodity based system which it seems NOONE is talking about. The comments at the end are illuminating. No FDIC insurance.
What's the other state that's solvent? It might be useful to see how they managed to stay above water. I'm thinking it might be because they avoided putting too many eggs in the mortgage basket. Just guessing. dj On Mon, Sep 7, 2009 at 8:42 PM, ornamentalmind<[email protected]> wrote: > > North Dakota is one of the two states that is still solvent. It has a > state owned bank. > > > > http://www.examiner.com/x-18425-LA-County-Nonpartisan-Examiner~y2009m9d4-Solvency-how-stateowned-banks-end-interest-costs-to-state-debt-5-billionyear-for-CA > > > --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups ""Minds Eye"" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/minds-eye?hl=en -~----------~----~----~----~------~----~------~--~---
