Wow, anybody bother to have a little fore thought here and wonder how Kalifornia is going to redeem these IOUs, with interest no less..?
That out touch with reality state is BANKRUPT. It doesn't have any money. It can't pay its bills. How is it going to come up with the money plus interest in less than 90 days..? Issue more IOUs..?
As far as Kalifornia accepting them for tax payments. I don't see that happening.
This whole retarded debacle is entertaining if anything.
Sadly, when this self inflicted mess reaches critical mass, Obama and the feds will give them a bailout. That will open up a can of worms. There will be 49 more states right behind them looking for a bailout.
The Kalifornians still don't have a clue, they still don't get it. They need to reign in their spending, they need to run a balanced budget. No more welfare and socialism.
It's downright criminal what the Kalifornia government has done. They should literally be up in arms storming Sacramento over this. But no... How sad and pathetic.
quote:Government officials and consumer advocates say the banks should be more sympathetic, especially since they've been the direct beneficiaries of taxpayer dollars.
To all of those officials and consumer advocates I say: If you're personally willing to take IOUs instead of money when you make your withdrawal raise your hand and voice! If not, please return to think training before opening mouth again.
Don't point it out at most Californian's. It's the pathetic Politicians that are making the rules without the backing of the people. They get all the illegal votes they want by wasting money,
Banks' plan to refuse California IOUs takes heat
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Posted - 07/08/2009 : 16:24:52
