The Credit Crisis Hits California

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Last week, Governor Schwarzenegger told the US Treasury Secretary that California might need $7 billion in federal money just to pay bills. Now it appears the state budget—after those months of wrangling—may have to be opened up again. Also, if you're behind on your mortgage payments, Countrywide may have a deal for you.

Last week, Governor Schwarzenegger told the US Treasury Secretary that California might need $7 billion in federal money just to pay bills. Now it appears the state budget—after those months of wrangling—may have to be opened up again. Also, if you’re behind on your mortgage payments, Countrywide may have a deal for you. Image Credit: U.S. Home Prices drop to October 2005 Levels. By David McNew/ Getty Images News

From this Episode:

Credits

Host:

Warren Olney

Producers:

Karen Radziner, Christian Bordal