The fatuous anxiety of the banks
Posted by Anonymous (not verified) on Tuesday, 7 July 2009Several of the state's leading banks, meanwhile, said they would accept the IOUs, formally known as registered warrants, but only until July 10. Others had not decided yet.
"Given the poor credit rating of California – the worst in the nation – banks may be hesitant to extend credit to the state," Rod Brown, president and CEO of the California Bankers Association, said in a prepared release. -- Sacramento Bee, July 3, 2009