Apparently Mr. Ackerman is describing this bogus grandstanding lawsuit as if it is uncharacteristic of the California AG. It seems that he is unfamiliar with Mr. Lockyer, who is incapable of any other kind of legal action.
The elements of the strom that seem to be lining up include: (1) an election year where hard choices will be avoided if at all possible; (2) a clear budget deficit that is getting worse by the hour; (3) a recent court decision that says the state should pay federal minimum wages if it doesn't get a budget passed to state public employees; (4) a Governor proposed budget that is based on borrowing and expectations for large amounts of help from the federal government; (5) various democratic party leaders within the state government refusing to honor contracts and threatening all kinds of litigation, the result of which is making business unsure if California can be a good business partner; (6) an out-of-control Governor who appears to be shaking down anybody and everybody from teacher groups, to students, to folks contracting with the state for election campaign money; (7) Bond rating agencies that after the Merril-Lynch decision are concerned that their public pronouncements on credit-worthyness had better match their internal e-mails; (8) a financial plan to pay off borrowing that has not seen the light of day and is probably false to begin with.
Yes, this may be the perfect financial cash-flow storm building in California.