California may need a loan!!!
"California Gov. Arnold Schwarzenegger, alarmed by the ongoing national financial crisis, warned Treasury Secretary Henry M. Paulson on Thursday that the state might need an emergency loan of as much as $7 billion from the federal government within weeks.
The warning comes as California is close to running out of cash to fund day-to-day government operations and is unable to access routine short-term loans that it typically relies on to remain solvent."
This credit crisis we are experiencing is going to let a LOT of companies/states,etc use the crisis as an excuse for their own mismanagement...I am not saying this is the case with California,but i am 100% certain there will be others taking advantage of this opportunity to pass the blame