In today's LA Times, colleague Jim Moore argues that LA's Metrolink should die. It has killed enough people and the economic justification for its existence has never been made. But the Governor wants a "yes" vote on another high-speed rail boondoggle. Shikha Dalmia elaborates in today's WSJ ("California is Headed for a Real Fiscal Train Wreck").
In today's WSJ, Peggy Noonan writes that both Presidential candidates are clueless on the market meltdown. Surprise!. Jonathan Macey writes that, "Letting markets work is messy and costly. Nevertheless, the only sensible way to deal with the current crisis is to force the companies who created the mess to bear at least some of the costs of their mistakes. Most of all, if the markets are to get back on track our regulators must an immediate stop of publicly demonizing the markets and work to restore confidence in the system."