California like Greece?

Romney compares California's economy to Greece

I think that Romney's point of view is mainly one of ignorance. Because he doesn't live here he can't really see the whole problem in actuality.

If I were to define the problem that caused what is happening in California it came primarily from a fluke in regard to Energy Laws in California. So, the law that was supposed to create competition between utility companies actually was misused in the early 2000s and became a horrific event for everyone in California and the western states. And to make matters worse, when California and most western States begged FERC under President Bush to step in and save us, no help was forthcoming. So, saying it was caused in the end by the failure of Bush Administration through FERC would be the most accurate way of putting it. As a result of misused California legislation and monopolizing companies like Enron, Billions of dollars from California citizens were stolen through their Electric, gas and utility bills. Because the STate was compassionate and didn't want little old ladies to have to pay utility bills of $5000 to $10,000 a month or more, the state subsidized utility bills to the tune of Billions of dollars and California residents helped drive Enron and other companies out of business in revenge for the harm done to our state by the Bush Administration through FERC and by companies like Enron who laughed at people who couldn't pay their utility bills all the way to the bank. When Governor Gray Davis couldn't find a way to pay off these billions of dollars he was replaced by Governor Schwarzenegger  who also couldn't figure out a way to pay off these bills and each governor had to figure out ways to borrow more and more money. Then the recession hit and made everything worse. 

So, California because of this financial mess caused by bad California Legislation combined with bad Federal management by FERC under Bush prevented California from leading the country out of the recession as it has every time since World War II.

So, Is California like GReece? You tell me. Because the types of business practices used by Bain under Romney are the same kinds of ones that killed the Goose that layed the Golden Eggs which was California which lead the U.S. out of every recession since World War II!