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California tragicomedy continues

California legislature on a crucial conference call with the governator

California legislature on a crucial conference call with the Governator

The California budget train wreck continues with yet more days of frenzied inaction.

Just don’t go trading those IOUs unless you’re registered to trade securities, says the Feds. Plus, three major banks stopped taking the IOUs yesterday and state workers, who already have gotten a pay cut of about 15%, may well go on strike.

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