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Rubbed RAW, He RAN

August 1, 2008 - 11:56am

The Sacramento Bee has a pretty good summary of the two financial instruments that nearly out-of-cash California is about to hear a lot about. RAWs (Revenue Anticipation Warrants) and RANs (Revenue Anticipation Notes). I'm anticipating some confusion, but this is important stuff. By the way, it's Aug. 1. The budget in California is supposed to be done by June 15.