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January 2010

Fool’s Gold

The Golden State is looking a little lackluster.  Mired in debt, $59 billion in General Obligations and growing, California has ask and been rejected by the Obama administration for relief.  As a result, its debt rating was downgraded by S&P, Moody’s, and Fitch. And it appears that California is about to issue more IOUs, like it did last year, to bridge the massive amount of its budget short fall, some …Read More