Lockyer Blasts Bankruptcy Idea for States

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There have been rumors in Washington that some states, including California, are in such bad shape they should be allowed to declare bankruptcy. In a national telephone conference call with reporters today, Bill Lockyer, the State Treasure of California, called that a "cynical proposal designed to incite a panic in response to a phony crisis."

Credits

Guest:
Bill Lockyer - California State Treasurer

Host:
Warren Olney

Producers:
Frances Anderton, Katie Cooper