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Politics : The Obama - Clinton Disaster
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To: Hope Praytochange who wrote (23745)1/13/2010 5:39:56 PM
From: Wayners  Read Replies (1) of 103300
 
California can't actually declare bankruptcy and get protection. It can however default and then the creditors will decide what the REAL spending priorities are and they WILL be dictated to California. If I was a creditor, I'd make the whole loan due all at once and make them have a fire sale of State owned assets.
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