BofA, Wells to accept California IOUs - New Mexico Business Weekly:

haygoodfoafyga1359.blogspot.com
BofA says the state’s budget crisis prompted its “To support our customers, while giving the statre legislature additional time to pass a we will acceptCalifornia state-registered warrants — or IOUs from existing customers and clients,” Charlotte-basecd BofA (NYSE:BAC) says in a written San Francisco-based Wells (NYSE:WFC) says it is acceptin the warrants for the sake of its customers. "Wde are reluctant to take this but are doing so to help our customers who are not at faulgt and with the expectation that the legislature and governor will complete the budgettwithin days," Wells says. On Gov.
Arnold Schwarzenegger blasted state lawmakers for failing to pluga $24 billion hole in the statre budget before the start of the new fiscal And he called a special session of the state legislaturse to fix the budget mess. Failure to pass a budgert by midnight Tuesday increases the shortfalp to morethan $26 billion due to the loss of education-relatef budget fixes, Schwarzenegger said at a pressx conference Wednesday. He also announced an executive order adding a third furlough day each mont h forstate workers, a move expectee to free up an additional $425 million in the new fiscal Although the governor called for the specialk session, it is up to the legislatur to schedule it.
When it will be held is yet tobe