Is Elliot Spitzer Channeling The Economic Populist?

One must wonder if Elliot Spitzer is an EP lurker. Today Spitzer wrote a column about how states are headed for disaster. The post has statistics which were outlined by manfrommiddletown a few days ago.

Or is it more many of us are astutely aware of coming implosions, trying to warn and show repeatedly, like some 3rd mind, a conscious social brain, all examining trends and data who end up screaming bloody murder in synchronous unison....
a glorified Cassandra group speak yelp spike?

Whatever the reason, one must congratulate manfrommmiddletown in writing such a relevant post, complete with maps and also be grateful Spitzer is emerging from his personal fallibility cave to come out with guns ablazin'.

FDIC - Cash Strapped Already???

Oh, what news reports are buried below the political machine hype.


I would not rule out the possibility that at some point we may need to tap into (short-term) lines of credit with the Treasury for working capital, not to cover our losses, -- Chairman Sheila Bair

They also are considering raising premiums in October. Bair also is planning on charging higher premiums to the more risky banks:

The agency also plans to charge banks that engage in risky lending practices significantly higher premiums than other U.S. banks

This is pretty early in the game to be borrowing money. According to these reports the FDIC has only borrowed money at the tail end of the S&L crisis in the 80's.

SmartMoney has more details: