2008-10-03 — ml-implode.com
It’s ironic that Schwarzenegger made this bailout request in a letter urging the passage of the $700 billion bailout. CA is the epicenter of the housing crisis and much of the toxic paper Paulson will buy with his new authority will be from California. It takes a bit of chutzpah to ask for two bailouts at once.
And what if Treasury lends to California? What about all the other state governments that are facing funding problems?
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