As the specter of sovereign default lurches towards Spain, it increasingly appears that German taxpayers will be footing most of the bill for the profligacy of their continental cousins, and I suspect that more than a few American central bankers are now basking in that most German of emotions, schadenfreude.
In fact, you have to cross the Mississippi River and the Continental Divide to find the new breed of pro-business Democrats, led by New Mexico's governor, Bill Richardson.