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Start the Presses for the State IOU's
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 .
By Warren Olney • • 1 min readThe 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.
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The full episode
2 of 4Lessons in LA's Smog- 0:00Human Rights, the Law and the Ongoing Threat of Terror
- 27:28Start the Presses for the State IOU'sYou’re reading this
- 32:24Lessons in LA's Smog
- 47:08State Treasurer Gets Creative with Budget Solutions