Bank on the Golden State

When I was a kid, the image of California was almost magical to those of us who lived on the East Coast. California was palm trees, cable cars and movie stars. When I first made it to the Golden State in my late teens, I was enthralled by the entire state and eventually moved there for a few years. The reason I left in the early 1990s were a foreshadowing of what is happening there today. Rapidly rising taxes and ridiculous government policies were among the chief reasons I fled the state and that has gotten worse instead of better over the next two decades.

Today when we think of California, we tend to think of bankrupt cities like Stockton, fallen real estate values in the aftermath of the crisis. The state and local governments seem to be in the news almost daily for some ridiculous new proposal or proposition and the external view of the state is one of poor government and a failing economy. The unemployment rate is close to 10% and the state is viewed as outright hostile to business with its heavy tax burden....558 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

Read the full story and get access to the Real Money Pro trading floor.

There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.

Already a Subscriber? Please login.

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data provided by Interactive Data. Company fundamental data provided by Morningstar. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by Interactive Data Managed Solutions.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

IDC calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.