Posted by seumasach on April 2, 2010
Laura Flanders
1st April, 2010
Does it seem right to you that a state’s ability to stay afloat should be the stuff of secretive betting pools? That’s just what’s happening. While states like California struggle to pay their teachers, librarians and cops, traders are gambling — by buying credit default swaps — on the fate of our biggest state. And that’s just half the story.
Posted in Financial crisis | Tagged: california goes bankrupt | Leave a Comment »
Posted by seumasach on February 19, 2009
18th February, 2009
The state of California was yesterday set to fire 20,000 public employees as it teetered on the brink of a total financial collapse.
Posted in Financial crisis | Tagged: california goes bankrupt, financial collapse, the states go bankrupt | 1 Comment »
Posted by seumasach on February 6, 2009
5th February, 2009
Mercury News is reporting Counties threaten tax revolt against California budget
California counties are throwing another wrinkle into the state’s cash crisis as Gov. Arnold Schwarzenegger and legislative leaders try to agree on a way to erase a $42 billion budget deficit.
Posted in Financial crisis | Tagged: california goes bankrupt, financial collapse, the states go bankrupt | Leave a Comment »
Posted by seumasach on February 4, 2009
4th February, 2009
California has had its credit rating reduced by Standard and Poors.
Posted in Financial crisis | Tagged: bankrupt california, california goes bankrupt, financial collapse | Leave a Comment »
Posted by seumasach on February 2, 2009
January 28, 2009 “Information Clearinghouse“ — California State Controller John Chiang announced on January 26 that California’s bills exceed its tax revenues and credit line and that the state is going to print its own money known as IOUs. The template is already designed.
Posted in Financial crisis | Tagged: bankrupt california, california goes bankrupt | Leave a Comment »
Posted by seumasach on October 4, 2008
California is the latest US state to be feeling economic shockwaves from the financial crisis on Wall Street in the form of budget deficits, dwindling finances and plummeting pension funds.
Posted in Uncategorized | Tagged: california goes bankrupt | Leave a Comment »
In These New Times 