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Politics : Just the Facts, Ma'am: A Compendium of Liberal Fiction
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To: Jim S who wrote (48806)6/6/2006 1:47:09 PM
From: Peter Dierks  Read Replies (2) of 90947
 
"they were able to fire a bunch of deadwood employees and stop pay hikes for the rest of the employees.

So, what would happen if a state like CA went bankrupt?"

If they were able to fire the deadwood there could be a silver lining in the cloud.

But who would buy $12B in CA bonds used to finance the last decade's excessive lifestyle?
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