>ROFL again.do continue ....btw by your own reckoning 3 bad apples not 5.
>Please explain why the mess in California is a minor event but problems in Greece may bring down the Euro.. ?

The "PIGS" way of counting is Portugal, Italy&Ireland, Greece, Spain.
See my reply to Tracy for at least partially corrected way of reckoning.
"Bring down": In the EU the national government has to implement measures,
while other still partially independent countries are asked to bail out.

In the US the bulk of the deficit is at the federal level, which has control
and can at least be voted against. But all government is only a different
degree/measure of taxation and deficit pain.

regards

thomas