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Politics : Just the Facts, Ma'am: A Compendium of Liberal Fiction -- Ignore unavailable to you. Want to Upgrade?

To: Peter Dierks who wrote (48818)6/6/2006 2:33:02 PM
From: Jim S  Read Replies (2) | Respond to of 90947
 
Peter, I suspect that if the rates are high enough on "junk" CA bonds, and if they're revenue bonds (that is, paid directly from residents' taxes), even a bankrupt state could float enough to stay solvent long enough to get back on its feet. It would be tough on the state's residents, though. They might have to move San Francisco to Des Moines. <GGG>



To: Peter Dierks who wrote (48818)6/6/2006 10:16:59 PM
From: Lazarus_Long  Respond to of 90947
 
But who would buy $12B in CA bonds used to finance the last decade's excessive lifestyle?
Yeah, man, but WHAT A PARTY!!!!

The hangover is a bitch, though. :-)


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