Treasurer to Feds: Be There, Just In Case

May 13, 2009 · Filed Under CA Budget, Elections · Comments Off 

An unsurprising, but still sobering, bit of late afternoon news on the state of California's finances: Treasurer Bill Lockyer has formally asked the feds to back up the state's massive borrowing needs over the next few months -- essentially a guarantee that the United States Treasury will step in should the state or any local governments default.
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