Here's a great article about California's fiscal woes: http://www.vanityfair.com/business/features/2011/11/michael-lewis-201111.print http://www.vanityfair.com

Here's a great article about California's fiscal woes: http://www.vanityfair.com/business/features/2011/11/michael-lewis-201111.print http://www.vanityfair.com/business/features/2011/11/michael-... The article talks about legal difficulties in raising property rates, huge pension costs, a culture of entitlement and endemic political obstruction.