This first-ever review looks at the threats to state's financial health. The budgets and finances of California, Illinois, New Jersey, New York, Texas and Virginia are looked at.
David M. Crane
David M Crane is an American who was the Prosecutor of the Special Court for Sierra Leone from April 2002 until July 15, 2005.
Partner, Schiff Hardin LLP's Municipal Restructuring Practice; Instrumental in Passage of California Assembly Bill 506 (Requiring Neutral Evaluation before Municipalities File for Bankruptcy)
Member, California Forward Leadership Council; Director, McKinsey and Company
UC Berkeley Graduate School of Journalism; Former Political Reporter, KTVU Television
George P. Shultz
George P. Shultz is the Thomas W. and Susan B. Ford Distinguished Fellow at the Hoover Institution.
He was sworn in on July 16, 1982, as the sixtieth U.S. Secretary of State and served until January 20, 1989. In January 1989, he rejoined Stanford University as the Jack Steele Parker Professor of International Economics at the Graduate School of Business and a distinguished fellow at the Hoover Institution.
He is a member of the board of directors of Fremont Group and Accretive Health. He is chairman of the J. P. Morgan Chase International Council and chairman of the Accenture Energy Advisory Board. He is also chairman of the California Governor's Council of Economic Advisors and co-chairman of the Committee on the Present Danger.
He was awarded the Medal of Freedom, the nation's highest civilian honor, on January 19, 1989. He also received the Seoul Peace Prize (1992), the Eisenhower Medal for Leadership and Service (2001), and the Reagan Distinguished American Award (2002). He is the recipient of the Elliot Richardson Prize for Excellence and Integrity in Public Service, The James H. Doolittle Award, and the John Witherspoon Medal for Distinguished Statesmanship.
The George Shultz National Foreign Service Training Center in Arlington, Virginia, was dedicated on May 29, 2002.
David Crane, adviser to former California Governor Arnold Schwarzenegger, explains how incomplete financial reporting and understanding caused a "panic that threatened the very foundations of our economy." According to Crane, state budgets are highly susceptible to insecurity in financial institutions.