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Dubai

California Dreaming

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The dream of sorting stuff out with IOU's is about to turn into a nightmare.....

NEW YORK (AP) -- After taking multibillion-dollar bailouts from the federal government, some of America's biggest banks are declining to lend a hand with a different financial mess: the California budget stalemate.

The banks, including JPMorgan Chase & Co., Bank of America Corp., Wells Fargo & Co. and Citigroup Inc. and some regional banks, are trying to pressure lawmakers to end the impasse by warning that, after Friday, they won't accept promissory notes -- called colloquially "IOUs" for "I owe you" -- issued by the state.

The move would leave many businesses and families with pieces of paper and fewer options for getting their money immediately.

Government officials and consumer advocates say the banks should be more sympathetic, especially since they've been the direct beneficiaries of taxpayer dollars.

Rest at: http://finance.yahoo.com/news/Banks-plan-t...nking-budgeting

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Government officials and consumer advocates say the banks should be more sympathetic, especially since they've been the direct beneficiaries of taxpayer dollars.[/i]

Rest at: http://finance.yahoo.com/news/Banks-plan-t...nking-budgeting

...the same Government officials will blame the banks when the 'funny money' all goes wrong.... <_<

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