Like Lehman Bros, they let California fail

[crgarcia]

Well, half fail.
They are reducing their budget.

 

[morganist]

Quote from crgarcia:

Well, half fail.
They are reducing their budget.

they could introduce a silicon tax.

is it just me or are the forums a bit slow at the moment.

 

[texrex2002]

Quote from morganist:

they could introduce a silicon tax.

That'd work really well in Miami too.

(I may be thinking of the wrong kind of Silicone though)

 

[endsongs]

10bn of the 26bn deficit was closed by one-time accounting gimmicks and raids on the local govt's treasuries (which they promised to repay to the local level in 10 years). Didn't Arnold say to make real cuts and not use smoke and mirrors? I have a feeling Cali will have another crisis by the end of next year if tax revenue does not pick up.

 

[jficquette]

Quote from endsongs:

10bn of the 26bn deficit was closed by one-time accounting gimmicks and raids on the local govt's treasuries (which they promised to repay to the local level in 10 years). Didn't Arnold say to make real cuts and not use smoke and mirrors? I have a feeling Cali will have another crisis by the end of next year if tax revenue does not pick up.

They have way underestimated the shortfall and they know that they have. They are just buying time. Its going to get ugly.

 

[risk1]

Quote from crgarcia:

Like Lehman Bros, they let California fail

California isn't a competitor to GS.

 

[TGregg]

Quote from texrex2002:

That'd work really well in Miami too.

(I may be thinking of the wrong kind of Silicone though)

LOL, I was thinking of the wrong kind of silicone as well - I was like "I thought they stopped making those?"

 

[S2007S]

Does anyone actually believe they can close that kind of deficit that quickly, there is no way this is the end to their troubles.

 

[377OHMS]

Quote from jficquette:

They have way underestimated the shortfall and they know that they have. They are just buying time. Its going to get ugly.

+1