Friday, June 17, 2011

BofA, Wells to accept California IOUs - The Business Journal of Milwaukee:

http://www.gogocool.com/2002/refs.html
BofA says the state’s budget crisis promptefd its decision. “To support our while giving the state legislature additional time to pass a we will acceptCalifornia state-registeree warrants — or IOUs — from existing customers and Charlotte-based BofA (NYSE:BAC) says in a written San Francisco-based Wells (NYSE:WFC) says it is accepting the warrant s for the sake of its "We are reluctant to take this but are doing so to help our customere who are not at faulgt and with the expectation that the legislature and governor will complete the budgeg within days," Wells says. On Wednesday, Gov.
Arnold Schwarzeneggerr blasted state lawmakers for failing to pluga $24 billiobn hole in the state budget befors the start of the new fiscal year. And he callee a special session of the state legislature to fix thebudget mess. Failure to pass a budget by midnight Tuesday increasesz the shortfall to morethan $26 billion due to the loss of education-relates budget fixes, Schwarzenegger said at a presxs conference Wednesday. He also announced an executivre order adding a third furlough day each monthb forstate workers, a move expectesd to free up an additional $425 million in the new fiscak year. Although the governor called for the special it is up to the legislature toschedule it.
When it will be held is yet tobe

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