Blockbuster Democracy - logo
 

California May Need $7 Billion Bailout

October 3, 2008 - 11:21am

The LA Times reports: In a letter to the Treasury Secretary, Gov. Schwarzenegger says the state may soon run out of cash without a $7 billion loan.

Comments

well, the California

well, the California governor Arnold Schwarzenegger, says that they need a $7 billion loan?

I would think that the government of California should have sufficient liquidity in their investment portfolio to cover $7 billion, but I would need to look at the comprehensive annual financial report rather than the budget.