California may Issue IOUs

by Dual Income No Kids on June 30, 2009 · 0 comments

Hi All,

This just in. California may begin issuing IOUs to companies doing business with the state (LATimes).

This is bad news. It means the state government doesn’t have any cash. They are not operating on the same terms as private business.

If you are considering buying state issued California bonds, I’d think twice about it. They may not have the money to pay you.

Best,

James

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