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  • Big Banks Don’t Want California’s IOUs

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    RYAN KNUTSON
    The Wall Street Journal
    July 7, 2009

    • A d v e r t i s e m e n t
    • efoods
    A group of the biggest U.S. banks said they would stop accepting California’s IOUs on Friday, adding pressure on the state to close its $26.3 billion annual budget gap.

    The development is the latest twist in California’s struggle to deal with the effects of the recession. After state leaders failed to agree on budget solutions last week, California began issuing IOUs — or “individual registered warrants” — to hundreds of thousands of creditors. State Controller John Chiang said that without IOUs, California would run out of cash by July’s end.

    But now, if California continues to issue the IOUs, creditors will be forced to hold on to them until they mature on Oct. 2, or find other banks to honor them. When the IOUs mature, holders will be paid back directly by the state at an annual 3.75% interest rate. Some banks might also work with creditors to come up with an interim solution, such as extending them a line of credit, said Beth Mills, a California Bankers Association spokeswoman.

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    Comment Rules

    122 Responses to “Big Banks Don’t Want California’s IOUs”

    1. al Says:

      “Obama” – What kind of parent gives a child a “bone in the nose” name like that?!

      Yahoo Reply:

      It’s a cultural name I suppose, you know, considering he wasn’t born in the US and all…

      al Reply:

      Yahoo – Precisely correct.

      Glenn Beck's Banker Reply:

      They don’t want arnie’s IOU cause they want to forclose on the property.

      justme Reply:

      Obama is just the stage-name… his full name is Baruch Obamawitz.

      MAD DOG Reply:

      BAWAAAAAAAAAA HAAAAAAAA HAAAAAAAA HAAAAAA

      Rich Reply:

      Yup all people in this country with them foreign sounding names ain’t born here, a hyuck! It’s no wonder nobody takes you morons seriously.

      I Reply:

      amen

      Patriot_in_Arms Reply:

      They’re always burning, promoting, & maintains the largest Homosexual community in the world, they have the highest Murder & crime rate out of any State in the Country, then deny their law abiding citizens their 2nd amendment rights, they house MILLIONS of ILLEGAL IMMIGRANTS, they’re the most liberal State in the union, & now they are broke? Sounds like the “Good” folks in California better take their State back, before the good Lord serves justice on it! Everyone pay close attention here, because all 50 States are on the same path as California!

      look out Reply:

      every one needs to keep an eye on whats going on in cali , it will be the model for the rest of the states, they are the first to fall , but not the last.
      and as far as I.O.U.’S- they have done it before, big government collapsing in on itself, there is no other way, the pain is unavoidable.

      justme Reply:

      this will get ugly… very.

      Boston Revolt Reply:

      like i said three months ago the west coast will feel the wrath first but ya know what when it happens they all will look around like its ok everything is ok life is ok weeeeeeeeeeeeeeee dumb brainwashed fools

      TakerOfCorporateSouls Reply:

      cali should coin its own money and keep the interest……they could issue credit and give low interest loans…….free up capital in the long run……cali has the 7th largest economy in the world……they just have to kick off the ticks and fleas…ie. the fed reserve and the fed government……

      fresno Reply:

      Californians must act unitedly decisively and quickly to save thier state.The State could very well go into a kind of receivership where creditors could begin to sieze assets owned by the state to satisfy the debt.Once California s debt is undesireable it will become a servant state to whoever will loan money services goods to them.The private citizen will have to grapple with everyone else to get the goods and services they need.That could get ugly.Watch the scenario cause what plays out in California could play out in your state too.

      Nate Janowicz Reply:

      Represent. http://www.natejanowicz.com

      I love you guys Reply:

      Like Gerald Celente said…….this is just the beginning. He’s spot on again.

      jdogg92056 Reply:

      Personally, I don’t see it playing out that way. I might be wrong, but what I think will happen is that the many, many bureaucrats, whose sole purpose in life has up to this point been collecting $100K per year for doing absolutely nothing except f*cking up life for everyone else with their arbitrary rulings and administrative findings and other nauseating unconstitutional activity, will find themselves out of work. The nature of their uselessness coupled with the weak condition of the economy will likely render them unemployable. They are about to be cut off like the arrogant, spendthrift, bastard children that they are. Once they are out of the way, it is my hope that Californians will again remember that personal entrepreneurship coupled with enforceable contracts and property rights will one day make California again the California of my youth.

      Paybacks are such a bitch!

      JAFO Reply:

      Yeah, it’s the homosexual’s fault. The real “Economic Girly Men”. Moron. Go back to your King James Bible and leave the intelligent debate to us grown ups.

      Nick McClellan Reply:

      @ Patriot in Arms:

      How does the “largest homosexual community” have anything to do with California’s corruption? The homosexual community is NOT a threat on you, your rights, or your way of life – - – in all its Christian glory! Most homosexuals are just normal people like you. California gives and allows these “sinners” to live a live without the social scrutiny that he/or she might encounter is other more conservative states. For example Mr. Patriot, would you choose to live in a town majorily comprised of Muslims (not that there is anything wrong with most Muslim peoples) … or live in a town with fellow like minded people?

      The real issue is not that California is propping up these “blasphemous sodomizers”, but for what reason is it that many homosexuals choose to live in California? Could it be that they feel socially marginalized by many American’s and the states which promote sexual segregation?

      Patriot, I urge you to try to be a bit more openminded and to understand the real aim of the homosexual agenda before you toss it in with the evils or California.

      MAD DOG Reply:

      YAH

      MOST MEN WHO PLAY WITH OTHER MENS BUTTS AND PETERS AND WOMEN WHO LICK EACHOTHERS BUTTS

      ARE PERFECTLY NORMAL.

      Rich Reply:

      Most liberal state in the union? Just what we need, more uninformed “Uhmericuns” on this site lol. Did you not notice that Prop 8 failed? Do yourself a favor and stop slurping up that MSM propaganda. Just because San Francisco and LA take the headlines, doesn’t mean the rest of the state is the same way. There are plenty of conservative bastions in this state, not the nutbag variety in Utah mind you (which you would definitely fit in)

      rose Reply:

      arine is nothing more then govenor. they tried passing a bill. redoing the constitution. making it possible. for arnie to become president. ( “PRESEDENT!” ) “OMG” what would he have done. if it had passed and become as such?! fortunately it was defeated! ( “WHEW!” ) this MJ’S death/funeral. is so over rated. it’s not even funny! it’s interesting to note. nothing more. was said about the ship. going from NK. that reportedly had missles on it. and that they were thinking. of launching some. towards the hawaiian islands. it was last reported. it was close to china’s cost line. as someone said. “let’s do onto them.” “before they do onto us.” if a nuclear strike did occur. it would send us back to the ice age! and wipe out everything. including the internet! which if that ever happened. we wouldn’t have any recourse! or anywhere to go! seems as though. obama. is making strange bed fellows. going to Russia. talking about the reduction of nuclear weapons. maybe instead. he should take a long hard look. at what NK is doing!

      Patriot_in_Arms Reply:

      You ask what kind of parents give their child a name like Obama? 2 dead one’s! Ohoooooooooooo!

      justme Reply:

      Obama is just the stage-name… his full name is Baruch Obamawitz.

      Phil Reply:

      LOL

      Gina Reply:

      He changed his name. It was Barry Soetoro.

      Boston Revolt Reply:

      hip hip horray one person who knows his real name ;-)

      sillycat Reply:

      his name’s actually barry soetoro not barack obama

      Boston Revolt Reply:

      2 people

      Rich Reply:

      Dumbasses. http://www.snopes.com/politics.....dental.asp

      Hillbilleeboy Reply:

      He was born named Barry Soeteros and changed it later.

    2. johnny lago Says:

      can taxes be paid with IOU’s?

      most chicks are ugly Reply:

      I wouldn’t want a California IOU either.

      A Total Idiot Reply:

      U.S. Constitution, article 1, Section 10. No state shall enter into any treaty, alliance, or confederation; grant letters of marque and reprisal; coin money; emit bills of credit; make anything but gold and silver coin a tender in payment of debts; pass any bill of attainder, ex post facto law, or law impairing the obligation of contracts, or grant any title of nobility.

      Hmm.. bills of credits placed by states? Such an interesting thing. It would seem that the citizens of California, are getting bent over and ‘Californicated’.

      Perhaps the best answer is to demand your California checks in gold or silver…. Oh wait, they don’t have any.

    3. Nate Janowicz Says:

      A Message to Free Californians and Free Citizens of the U.S. and world.

      Declare Independence from the International Banking Cartel at:

      http://www.natejanowicz.com

    4. johnny lago Says:

      this is a great idea! forget using dollars anymore…Arnold has shown us the way…we all just give each other IOU’s!

      AngryinNJ Reply:

      uh.. federal reserve notes aren’t really money anyway.. just another IOU

      justme Reply:

      yup.

      TakerOfCorporateSouls Reply:

      cali should coin its own money and keep the interest and put it towards the debt….they have the worlds 7th largest economy

      Inject this! Reply:

      Pay your taxes with a Promissory Note.

      Since fed reserve notes are debt and not money, since gold and silver are not legal tender AND since a tax bill is a ficticious entry in a computer, “pay” them with a Promissory Note so they can balance their books. One fiction balances another.

      Or, one thing I want to try, go pay your taxes with gold coins if you have some. When they say that they can’t accept gold or silver (much less give you change in gold or silver) get it in writing if you can. If they refuse to accept your payment, (which is Constitutional money), you are no longer liable for the debt.

      If one person does it, they’ll give you a hard time. If hundreds or thousands do it….. well I’d like to see that.

      mike Reply:

      No way would I give them my gold for taxes! You would be paying for your own death. Pack a gun and pay NO tax.

      Inject this! Reply:

      I didn’t say GIVE them your gold, I said OFFER to give them gold…which they can’t accept legally as gold is no longer legal tender, yet remains Constitutional.

      Once you make the offer and they refuse to accept it, the debt is canceled.
      You put them in a box where there’s no escape and I’ll bet the people at the tax collector’s office aren’t smart enough to figure it out.
      Even if they did accept you gold coin(s), demand change back in gold which they can’t possibly do. Then turn around and go home. You just beat city hall.

      Ya gotta out-think them, which isn’t very difficult to do.

      Kim American Reply:

      see your post often. like how you think.

      Boston Revolt Reply:

      easier said then done my friend

      Inject this! Reply:

      Why is that?
      I’d say it’s easier done than said. It only takes 10 minutes of your time and if you get ascared, you can always whip out your checkbook and give them your hard earned money so they can piss it away. But first, ask them for an invoice for services rendered regarding your tax bill. (and I don’t mean the IRS).

      You have to stop being afraid of these people and playing by their “rules”.
      Their rules are illegal and I’m tired of funding criminals.

      Kim American Reply:

      like it. sure.

      jimshores Reply:

      I don’t want to lend money to the big banks; their IOUs are not worthy of credit either. They evidently are not only stupid, they are liars and thieves.

    5. Scott Carriere Says:

      I wouldn’t pay one pennie into CA. If it’s ok to pay their bills with IUO’s, then I would send them a IOU instead of money.

      MAD DOG Reply:

      I’M NOT HOMOPHOBIC

      I’M HOMODISGUSTIS.

      DErAngeD Reply:

      arnold needs to get a billion iou’s from the citizens of california

      jimshores Reply:

      IOUs are worth what scrap paper is worth, about $100 per ton. Like the FED toilet paper,our debauched currency, is soon to be valued. How can 100 weasels in control of this world slap around 8 billion or so humans? With guns of course, that is why they want all of them now. Give up your guns and get ready to starve, I don’t think so.

    6. cookie Says:

      Why can’t banks just forgive ? millions of people losing jobs millions getting salaries cut , why can not banks take the same loss ? what the fuck ?

      Yahoo Reply:

      No one should be forgiven. If you fail you fail, the end. You suck it up and get back to consuming.

      Too bad the FED sets everyone up to fail…

      cookie Reply:

      consuming what ? I ain’t got much to consume, let me tell u .

      Inject this! Reply:

      Because you have a beating heart and a conscious. The bankers have neither.

      Boston Revolt Reply:

      A bank is a place where they lend you an umbrella in fair weather and ask for it back when it rains. Robert Frost;

      justme Reply:

      because that was never, ever the plan?

    7. Kevin Says:

      The arrogance of these people to think that IOU’s will just have to do. How about they recognize the disaster they created and start cutting anything and everything from the budget? If individuals were this irresponsible we’d be out on our asses. Why don’t Californians send the criminals and Nazi out the door?

    8. thinkingman Says:

      The end of California is near, and the take over by the federal government will begin.

      justme Reply:

      a convenient truth.

    9. Big Bill Says:

      The hotel proprietor takes the 100 dollar bill and runs to pay his debt to the butcher.

      The butcher takes the 100 dollar bill, and runs to pay his debt to the hog farmer.

      The hog farmer takes the 100 dollar bill, and runs to pay his debt to the supplier of his feed and fuel.

      The supplier of feed and fuel takes the 100 dollar bill and runs to pay his debt to the town’s prostitute that in these hard times, gave her “services” on credit.

      The prostitute runs to the hotel, and pays off her debt with the 100 dollar bill to the hotel proprietor to pay for the rooms that she rented when she brought her clients there.

      The hotel proprietor then lays the 100 dollar bill back on the counter so that the rich tourist will not suspect anything.

      At that moment, the rich tourist comes down after inspecting the rooms, and takes his 100 dollar bill, after saying that he did not like any of the rooms, and leaves town.

      No one earned anything. However, the whole town is now without debt, and looks to the future with a lot of optimism.

      And that, ladies and gentlemen, is how the United States government is doing business today. ;)

      Little Bill Reply:

      But what if the rich tourist contracted a disease from the $100 dollar bill, which came from the prostitute who hid it in her syphalitic twat? If the rich tourist needed urgent medical attention for subsequent nob rot, would california issue an IOU for medical expenses?

      AngryinNJ Reply:

      except…. that the 100 dollars is actually multiplied without correlating production, so at the end of the day, the 100 dollars wouldn’t buy the same room as it would in the beginning..

      Kim American Reply:

      FUNNY!

    10. woo hoo Says:

      I can already see the headlines “World Blames California for Finacial collapse phase 2″

    11. AmForFreedom Says:

      Somewhere in Kenya a village is missing their idiot.

      justme Reply:

      and to think… it takes a village to raise an idiot…

    12. ste Says:

      I could care less, because I have invested in gold and silver. I have food stocked up for the family and a nice shot gun for intruders.

      justme Reply:

      oh… so you COULDN’T care less. GOTCHA! :)

      A Total Idiot Reply:

      Gold and silver are only good so long as the person has a surplus to sell. Should the economy continue in the direction it is going, we may well be looking at famine, a situation where even the most gold and silver is worthless… as nobody can afford to sell food and starve themselves.

    13. David Says:

      I’ll take your IOUS California!!!! Just hand em over and then I’ll use them to pay you for your services lol.

      Make Reply:

      Q: Can I use an IOU to pay my state taxes?

      A: You can use an IOU to pay your California business or personal income tax.

      The Board of Equalization does not accept IOUs as payment for sales taxes. However, that decision “is currently under review,” board spokeswoman Anita Gore says.

      Counties would have to decide whether to accept them for property taxes.

      (got this from SFgate.com)

      I bet you california is going to find a way to renege on using IOU’s for tax payments, maybe they will just increase taxes to make up the difference

      Boston Revolt Reply:

      A bank is a place where they lend you an umbrella in fair weather and ask for it back when it rains.

    14. Peter Tosh Says:

      Legalize it

      . Reply:

      !!! That would solve it in an instant!!!

    15. dWaRf mAp3e Says:

      http://911essentials.com says this inbred Nazi should be held responsible for the destruction, debasing and complete melt down of California over which he has ruled. Impeach this mental midget now.

      justme Reply:

      to be fair, this place was already on its way down before the governator ever came along…

      Rich Reply:

      Here, Here. I still can’t believe the idiots voted to re-elect this moron.

    16. stefanos Says:

      Power Trumps Law, Ethics trump power.

      justme Reply:

      and the criminals rule. :)

    17. George Orwell's ear Says:

      California is the 8th biggest economy, Obama could bail it out, but they want it bankrupt. It will serve as a model for the rest of the country. Nazi Arnold came in with a deficit in the low single digits(in billions), and he exponentially increased. Don’t think that if the 8th largest economy world bankrupts, any of you others in the rest of the states won’t get affected. Remember, most products are imported via the Los Angeles/Long Beach harbor port.

    18. fresno Says:

      guys this is a dangerous precedent.Do you remember Gray Davis.Arnie didnt get them into this mess the previous admin did.Gray resigned due to inept governance.That being said prepare for another migration out of CA .

      justme Reply:

      that migration you speak of is already underway…

      BobLeeSwagger Reply:

      Wel don’t migrate your asses to Alaska- that already happened back in the 80’s and you fucked it up bad enough already. You made that mess- you fix it, and stay the hell out of Alaska. Don’t need no more space aliens up here. Did I mention that Californians need to stay away from Alaska? It’s cold here, and you Californians won’t like it.

    19. NWO Inc Says:

      We here at NWO central do not want IOU’s period we want the land you undesirables are standing on. Like the Indians of years pass we will take your land your home and put you on reservation that is waiting for you at a FEMA fun camp that is if you are still alive.

      jimshores Reply:

      NWO, you have finaly spoken truth. Now, that didn’t hurt, did it?

    20. IAMBRAINWASHED Says:

      (In Arnold Accent)- “Wheere ar da white women at? Bedween Mahria an all de steroids I’v gotta a giant softee. Economee Schonomee.”

    21. tommytoad Says:

      The Homosexual statement I’d take only in the context you have a state that lets anything happen there, no one cares.Give Illegal aliens welfare and helthcare, give anything anyone wants, got to be liberal to keep the movie industry happy.Well now youve been runover by imigrants and hardly anyone pays taxes to the state, so now your broke what does anyone say? What’s that to me, I don’t care. Well you will when the gangs take over the state cause you have no police and firemen etc etc. I know this won’t happen but it will get a bit nasty. So look at obama, keeps giving to the banks to steal all the money but won’t help bail out Californication.

      jimshores Reply:

      How could they expect any thing in CA but Hell on earth, they voted to butcher very small humans for parts. Pay back from God is awsome.

    22. leo Says:

      I gota say there are some really funny comments on this article, I laughed my ass off,thanks guys.

    23. Sir Baby De Porky Says:

      Test : Enron

    24. Da Raw Journalist Says:

      OUR LEADERS ARE NO LONGER AMERIKAN
      Gov. Arnold Schwarzenegger is pround his father was a NAZI (prove this 2 be wrong i dare u)
      the people of cali are not getting shit back I.O.U will not be accepted by the BANKSTERS
      THERE JUST SELLING THE TAXPAPERS FROM CALI A ANOTHER DREAM , WHEN ITS TIME WILL WILL SEE GET FUCKED ONCE AGAIN..
      the people are working 4 noting then the BANKSTERS WILL TAKE EVERYTHING THEY HAVE . THE BILLS STILL HAVE TO BE PAID , SO WITH THAT EVERYTHING WILL BE STOLEN JUST LIKE THE ECONOMY
      STOP PAYING TAXES STOP BUYING, STOCK UP ON FOOD & GUNS, & BECAUSE I WILL NOT ACCEPT THE AMERO

      Boston Revolt Reply:

      yeah but yall act like the people had say in the first place on that tax money there gonna take it either way you look at it they take it right out of ur slave job unless u work on ur on but other then that if ur a working slave then they are taking ur money weather u like it or not

    25. Sir Baby De Porky Says:

      Test : FIAT currency

      P.S. Some word is not letting my post through some “chat bot” , and I’m trying
      to see which one it is !!!

    26. Sir Baby De Porky Says:

      Test : Unfathomably abyssmal state of affairs

    27. Sir Baby De Porky Says:

      Test : A rip off , inside a scam , within a crock of shit

      jimshores Reply:

      Barrak is a CROCK.

    28. Sir Baby De Porky Says:

      I don’t get it !!! The main components of my post show up when I break it down , but the whole
      post won’t show up !!!

      …Brutus…you too !!!

      justme Reply:

      HEY, I GOT THE GIST OF YOUR POST! :)

      Sir Baby De Porky Reply:

      Pffft !!! You’re talkin’ work !!!

    29. Highlanderess Says:

      RIP King of Pop!

      jimshores Reply:

      Rot in Hell, KING OF POOP

    30. TorchCarryingMob Says:

      Well you’re reapin’ what ya sown there Cali…

      Embrace the power of the Mob!!!

    31. AJ Videos Says:

      HERE: Stream and Download ALL the best interviews and rants from the Alex Jones Show Archives:

      http://alex-jones-archives.politicsfiles.info/

      TODAY:
      - Today’s Guest”Max Keiser”
      - Total Land Grab (California) by The Banksters is Underway!
      - Bill Federer:How America Was Founded & What it Stands For
      - Bob Chapman:John Kerry Says Senate Will PASS The Cap & Trade/Tax Bill !!!

      Backup your favorite episodes, don’t miss any!

    32. Abaaah Says:

      Don’t forget the chemtrails. Watch the new Coolade commercials. They even show chemtrails on commercials to decensities us from them. Listen for the droning sound if you can no longer see them due to the continuous spraying of the skies creating rain clouds. Drink the coolade my friends. See you on the other side.

      watch this

      http://www.youtube.com/watch?v=QXEZSTQwGh8

    33. the dog that bites Says:

      obamas real name is barry satorro(please excuse my spelling).

    34. I love you guys Says:

      4th largest economy in the abyssmal world is going bust. I would not care a toot except for the fact I live in NY state which is in just as much shit as CA is. NY will follow CA down the tubes. 2 large states in bankruptcy. NY’s governor is the biggest twit in politics (the assistant to the whore keeper). And we are hearing “green shoots”. Hahahaha. Never listen to ANY info which comes from a gov source. Draw your own judgements by what you observe. Arnold should be imprisoned for pandering to bronze skin criminals. Make Arnold withdraw 26 Billion from his Beverly Hills bank account to pay the bills. Wait, maybe his bank will give him an I.O.U.????

    35. O'Brian Says:

      “Big banks don’t want California’s IOUs.” In other news, 2 + 2 = 4.

    36. OZONE Says:

      FUCK THE IOU’S IS THERE ANY HOT WOMEN IN HERE? LMFAO! SERIOUSLY THOUGH…

    37. Brandon Kastning Says:

      Please help me. I will do web design from a tent! http://www.brandonkastning.net

    38. Patriot-er Says:

      One would have to have a lack of intellect not to assume that California and the other states are not being bankrupted on purpose by the NWO. $700 Billion bailout funds for banks, not for mortgages, most of it not spent…….yet none for the States of which should get priority of funds.

      Please, wake up people. They want you to revolt to give themselves permission to declare martial law and declare the 2nd ammendment null and void. Meanwhile our politicians cower to the foolish losing agenda of the NWO. These politicians’ children will be slaves unto the same system they sold their children out to. What a bunch of fooools. These politicians must be living in absolute paranoia and for good reason.

      The time is very near. Are ‘you’…….. ‘at the ready’?
      Sotomayer is to give all police and sherriffs carte blanche authority to do as they wish with her protection. This is why virtually all of the police organizations just recently gave her their support. The police know that they will need protection for what is about to transpire when the mass chaos takes place. Pick your catalyst. There are several to choose from. With Sotomayer (if confirmed) at the helm giving the police unheard of guarantees of protection from all crimes they may commit against the populace, the NWO gain their support. This is all by design as usual. Keep your eye on the ball before it smacks you in the noggin.

    39. Patriot-er Says:

      The police are to work for the PEOPLE not the agenda of a rogue STATE with international banksters/illuminati running the show!! The Police need to be educated to the fact that if the NWO is successful, their children will be slaves as well. I’m appalled at the massive ignorance in the world today. It’s truly unbelievable.

    40. cali Says:

      California is not the only STATE in US has financial problem, right now,

      US government does not have enough $ to support California as well as the other STATE.

      If this situation get worsen, what will happen to America is, each one of STATEs will going to

      be run individualy seperated by from the government.

      US government does not have enough money to support california. If they print out money

      out of nowhere, it will cause hyperinflation. That was happened to Zimbabwe, they print out

      money to pay the debts and they had hyperinflation.

      IAMBRAINWASHED Reply:

      The federal government supposedly has $10 Trillion at it’s disposal and for what? Isn’t this evidence that the TARP funds aren’t being utilized by the federal government, but by the banksters (privately owned)?

    41. Married to 1/3 Native American Says:

      The terminator needs to cut more government spending and staff! Only the top 5% should be running the government. The banks are now treating the government as a business. If they can’t generate assets they need to trim the fat! Maybe a government audit would do them some good!

    42. dutchdude Says:

      Just like the rest of The U.S.A United Stage of America

      Calli is C.T.D

    43. cookie Says:

      I wonder why they do not want IOU’ s
      Chinese and Russians have said USA economy is solid as a rock

      hm.. why wouldn’t they want to accept those :) lol

    44. tony x Says:

      I left Colifornia for Spokane four years ago and told The Terminator that I would not be there when he terminated the economy.He at first was not going to run, then Warren Buffet ( reported in the San Jose Mercury News) took him to visit Jacob Rothschild. The next day he went on Jay Leno to announce his run.Colifornia is just about done.I predict that in 7 years or less the tract homes built in the sixties and seventies will be bulldozed and the orchards replanted.Arnold is just another t-1000 drone doing his masters bidding.

    45. 888 Says:

      wish

    46. victor Says:

      High prices for homes, low pay, high taxes, weak world economy, high unemployment rates, all sounds like every year cali will have deficits every year, for years to come. Watch the movie Escape From LA. This is the future.

    47. Ronbo Says:

      California is now officially an economic basket case and when even the banks give them the cold shoulder that should be cause for alarm. This didn,t start with Schwarzeneggar be he didn,t help the situation with his RINO (Republican in name only) habit of trying to out-liberal the liberals.This is a result of 30 to 40 years of liberal politics and excessive social spending. California,s tax rates are already among the highest in the nation and yet they can,t get out of the financial black hole they,ve dug for themselves. Another reason they are in trouble but nobody wants to talk about is the impact of having millions of illegal aliens from Mexico and other places putting a drain on the state,s resources. The costs in health care, law enforcement, social programs which California won,t deny to illegals is eating them alive. Now that same mindset which ruined the state of California is in the oval office. The national debt was already bad under the the previous administration, now the new president wants to spend astronomical amounts of money on stimulus packages( which so far have not worked) and increased social spending we,re going to end up as the basketcase nation.

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