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This is not the FIRST time CA has issued IOU's and it won't be the last as long as we have the tax-and-spend Demos who refuse to give up their socialistic pet projects and are sold out to the unions in this state!This is just the way it goes EVERY YEAR in CA. It's not about not having the money; it's about not being able to agree on a budget that does NOT include more tax increases.
Oh, BTW, are you all enjoying paying higher vehicle reg. fees? That's one of the reasons Davis was ousted. Let's elect a real Repub./conservative this next time around instead of a Democrat in Republican clothes, who pillow-talks with a member of one of the biggest liberal families in the nation!!!
Vote Republican across the board if you want to get this state back on track! The gov. alone cannot do it. Reagan tried. Deukmajian tried, Wilson tried. Give the gov. a Republican legislature!
The budget problems were not as severe the last time IOU's were issued. Also the use of these IOU's might be much longer considering the current political environment. Banks also have no real choice but to cash them. Any bank which refused would face bad press and the loss of long term customers.
I really hope this mess finally forces real change.
FDIC and the agency that insures deposits at credit unions may and should look at the IOUs as worthless documents and not assets of the bank. This could make them insolvent and subject to govt causing them to be taken over.
I would take any deposits I have out of such banks just to be safe. And if BofA accepts them, I certainly would. It is not a sound bank as it stands now and these warrants will only make it worse.
There is not guarantee the state can ever bay these debts off and no one will lend to this state, nor will China / The state pitched a line to china about buying state debt recently and China refused.
We voted Republicans across the board for 8 years, which why this country is in the mess it is. So instead of name calling, it would behoove BOTH sides to truly put the interest of it's constituents first, instead of catering to special interest groups. Both parties are guilty of that and we,the people, are just as guilty for being so aloof. We need start holding our elected representative accountable for their actions and inactions.
65° SUNNY, 
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Only moderator-approved comments are shown on this page. To see all comments, please visit the forum. We at PressDemocrat.com created these forums as a place where our community can exchange ideas on news issues and express their thoughts. Please be courteous and respectful. Avoid expletives, false statements, veiled or overt threats and personal attacks. Stay on topic. (View full Terms of Service.)Post a comment | View all comments on this topic.
July 3, 2009 8:57:43 am
This is not the FIRST time CA has issued IOU's and it won't be the last as long as we have the tax-and-spend Demos who refuse to give up their socialistic pet projects and are sold out to the unions in this state!This is just the way it goes EVERY YEAR in CA. It's not about not having the money; it's about not being able to agree on a budget that does NOT include more tax increases.
Oh, BTW, are you all enjoying paying higher vehicle reg. fees? That's one of the reasons
Davis was ousted. Let's elect a real Repub./conservative this next time around instead of a Democrat in Republican clothes, who pillow-talks with a member of one of the biggest liberal families in the nation!!!
Vote Republican across the board if you want to get this state back on track! The gov. alone cannot do it. Reagan tried. Deukmajian tried, Wilson tried. Give the gov. a Republican legislature!
July 3, 2009 1:50:45 pm
The budget problems were not as severe the last time IOU's were issued. Also the use of these IOU's might be much longer considering the current political environment. Banks also have no real choice but to cash them. Any bank which refused would face bad press and the loss of long term customers.
I really hope this mess finally forces real change.
July 3, 2009 8:19:59 pm
FDIC and the agency that insures deposits at credit unions may and should look at the IOUs as worthless documents and not assets of the bank. This could make them insolvent and subject to govt causing them to be taken over.
I would take any deposits I have out of such banks just to be safe. And if BofA accepts them, I certainly would. It is not a sound bank as it stands now and these warrants will only make it worse.
There is not guarantee the state can ever bay these debts off and no one will lend to this state, nor will China / The state pitched a line to china about buying state debt recently and China refused.
July 20, 2009 11:09:43 am
We voted Republicans across the board for 8 years, which why this country is in the mess it is. So instead of name calling, it would behoove BOTH sides to truly put the interest of it's constituents first, instead of catering to special interest groups. Both parties are guilty of that and we,the people, are just as guilty for being so aloof. We need start holding our elected representative accountable for their actions and inactions.
Post a comment | View all comments