>What's interesting to watch here in California is the mire of utility
>de-regulation as it has quickly devolved into a nightmare of 19c
>boom-bust classic capitalism.
The financial markets are scared this morning that the California utility problem is going to result in bond and/or loan defaults. "America's best-loved economist," Larry Kudlow, just said on CNBC that "this is a Fed issue" (the anchor thought at first he said it was a "fetish") - meaning it's another reason to ease again.
Doug