Mike Shedlock is a decent economist but he has been shown to be way off the mark when it comes to analyzing precious metals. In fact, to support one of his articles a few months ago, he quoted Jon Nadler for his expertise. As most of us know, anyone that would look to the highly suspect Jon Nadler for knowledge can be dismissed outright.

A more stirring event has just occurred in Illinois this morning. One day after Illinois Governor backed Replican Windows and threatened to halt state business with Bank of America, this same governor has now been arrested for corruption by Federal agents. This is highly unusual as noted from the following media trail...

Regards - VHF

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"Dec. 9 (Bloomberg) -- Illinois Governor Rod Blagojevich’s threat to halt the state’s dealings with Bank of America Corp. over a shut-down factory in Chicago extends a “dangerous” trend of politicians meddling with commerce, a former general counsel of the Federal Deposit Insurance Corp. said.

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“This is a very dangerous thing,” said Douglas, who was at the FDIC from 1987 to 1989 and has since represented financial institutions including Bank of America. “There becomes an expectation that these government officials have some say over what the institution does,” he said in an interview.

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BREAKING: Illinois Governor Taken into Federal Custody

Chartingstocks

December 9, 2008

Illinois Gov. Rod Blagojevich has been taken into federal custody.

Federal agents made undercover tape recordings of Gov. Rod Blagojevich with the help of one of his closest advisers.

Investigators are looking into allegations of corruption, involving Blagojevich and the Health Facilities Planning Board, as well as the Teachers Retirement System. The investigation has been going on for several years, and initially, Blagojevich dismissed the claims. But the probe later resulted in the indictment and conviction of Antoin “Tony” Rezko, Blagojevich’s chief political fundraiser.

The news comes just one day after the Governor announced that he is suspending all business with Bank of America untill the bank would reassure credit to Chicago’s Republic Windows & Doors factory in a bold show of support by Blagojevich for the laid off employees of the company.