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This is great.. It's like asking for an advance to your allowance after your older brother just broke into your parent's safe, stole all their money, took the keys to the car, went to Vegas for the weekend, robbed a convenience store, wrecked the car and is on the phone with your dad at the very moment, asking if he can come down and bail him out of jail..

Screw Kalifornia too.. Let them all fail!!


California may need emergency $7 billion loan: report

Fri Oct 3, 4:50 AM ET

(Reuters) - California may need an emergency loan of up to $7 billion from the federal government within weeks, the Los Angeles Times on Friday quoted Gov. Arnold Schwarzenegger as saying in a letter to U.S. Treasury Secretary Henry Paulson.

In the letter dated October 2, Schwarzenegger called for the passage of the $700 billion financial industry bailout plan which the U.S. House of Representatives is expected to vote on Friday, the Times said.

"Absent a clear resolution to this financial crisis, California and other states may be unable to obtain the necessary level of financing to maintain government operations and may be forced to turn to the federal treasury for short-term financing," Schwarzenegger wrote in the letter, according to the paper.

A top Schwarzenegger aide followed up the letter with a call to the Treasury secretary on Thursday night, the paper said.

The California governor's office and the U.S. Treasury department could not immediately be reached for comment.

Credit markets worldwide have frozen up in the two weeks since the failure of U.S. investment bank Lehman Brothers, prompting concerns that issuers will run into trouble rolling over previous loans.

In the letter, Schwarzenegger noted California's plans to issue $7 billion in revenue anticipation notes in the coming days to fund short-tern cash needs -- now put in doubt by the crisis in the credit markets.

On Wednesday, California Treasurer Bill Lockyer said the most populous U.S. state's cash reserves may be exhausted near the end of October, and various state-funded services are at risk of grinding to a halt.

He said the planned notes sale was at risk from the uncertainty gripping financial markets and the U.S. government's lack of response to it.

Lockyer, who manages the bonds of the biggest issuer of public debt in the United States, said the credit market was simply frozen because financial institutions were afraid to commit capital amid enormous uncertainty.

"The economic fallout from this national credit crisis continues to drain state tax coffers, making it even more difficult to weather the continuation of frozen credit markets for any length of time. I will continue to do all I can to encourage the passage of the emergency rescue plan," Schwarzenegger wrote.

(Reporting by Ajay Kamalakaran in Bangalore; editing by Patrick Graham and Mohammad Zargham)
 

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The government will pay out. But I would like to see what would happen if all the people on welfare didn't get their checks. Of course, I would want those that really need it to receive their checks. But the lazy ones, I would like them to receive nothing!

This is probably be the first of many states that will be lining up in the next few weeks. Hell, I figure if the government is just going to be throwing money out and the fed is going to print 24/7. I might as well ask for a couple million myself. :)
 

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Here in SC when we run out of $$ we don't go crying to the feds, WE CUT BACK!!! They should too!!!!
By all means....tell Fabian Nunez that.
He's the Speaker in our so called Ass....embly. Or was, term limits got us a new Communist now. Nunez still calls the shots.
Saying cut back to our elected is like showing a vampire a crucifix.
They just got the budget last week or the week before after two months of argument where a core of the republicans and a few demos kept saying cut back and no to tax increases whereas the spendinator and his socialist bitches in the senate and assembly kept debating about what taxes to raise and what sleight of hand to try to pass it off.
In the mean time they argued furiously over a ban on plastic shopping bags and mylar ballons.
 

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Watchin tha world go by
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hey --- since they are passin it out to everyone

how do i git in line
or is the end of the line, just my wallet?
 

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Information is Ammunition
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22,122 Posts
hey --- since they are passin it out to everyone

how do i git in line
or is the end of the line, just my wallet?


they only pass it out to their buddies in the banks. the money COMES from us
 

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Haha
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If Arny needs more money he should get his ass workin then. I got a few ideas for some new Conan and Terminater movies. :)

-Cade
 
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