Gov. Schwarzenegger’s Sept. 16 executive order promoting clean power is likely better than a bill from the California Legislature, which would be more difficult to change.
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What went wrong with Bear Stearns, Lehman and AIG could not have happened without Congress repealing the Glass-Steagall Act. That “iron door” separating banking from investing was replaced with a shell game among insurance, currencies and hedge funds. The new “trading shops” (formerly banks) expected that “extreme negative events” might happen just once every 100 years.
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Ken Garcia must sit in the press section at Hardly Strictly Bluegrass, the annual free festival he praised Sept. 15. For most others, the experience is of arriving early, getting a good spot, waiting all day for Doc Watson, Emmylou Harris and Gillian Welch to perform, and then having the day ruined yet again by obnoxious yuppie drunks pushing in next to you, stomping all over your blanket and talking loudly through the performances.
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