Start the Presses for the State IOU's

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The State of California is printing up 28,742 IOU's for $53.3 million. If the state has the money on October 2, they can be redeemed with interest at 3.75%. In the meantime, the California Bankers Association says banks “may be hesitant” to accept them. Eric Bailey is in Sacramento for the Los Angeles Times.

Credits

Guest:
Eric Bailey - Staff Writer, Los Angeles Times

Host:
Warren Olney

Producers:
Sonya Geis, Christian Bordal, Katie Cooper