Since the late 2008/early 2009 crash, the nation's largest banks have experienced tremendous growth, reported substantial profits, and been able to pay back billions in TARP loans.  On Main St, however, a far more sobering reality exists. 

A CBS 5 KPIX poll on July 12 had Whitman ahead of Brown by 7%.  Just two weeks ago, a poll had Brown ahead by 6.  Sure, polls can skitter a bit, but the trend definitely shows Whitman surging and Brown faltering. Brown’s positive ratings have been falling steadily too, which is never a good sign. 

The gubernatorial race in California has escalated, and now Jerry Brown and Meg Whitman are locked in one of the more memorable duels California has recently seen. However, unlike in other races, where cultural or social issues often provided most of the ammunition, in this case the battle is one of raw economics.

At least 75 cities, counties, and public entities in California are considering cutting public pension benefits as well as raising the amount employees must contribute. Four localities, including San Francisco, will probably have pension-related ballot initiatives in November.