IT’S ENRON FANNIE MAE ACCOUNTING FOR THE ELECTORAL SYSTEM: “Mississippi’s voter situation is hard to believe. Places like Madison County have over 123% more registered voters than people over the age of 18.” We’re seeing a lot of that, and I’m worried that we’ll wind up with a crisis in confidence in the electoral system that will be worse than the financial crisis. In both cases, inside players have an incentive not to address the problem, but the consequences are likely to be dire for the rest of us. Really, 2000 should have been the wake-up call.

Of course, some of us have been sounding the warning for a while. Not to mention John Fund’s warning. Much good it’s done. . . .