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Would you buy a California IOU? First of all you must ask yourself: "What in the world is a California IOU"?

If you've read about the budget deadlock in California, you know that California has run out of money. At issue is the stalemate of how to raise $24 billion to cover their budget shortfall.

During this deadlock, California is issuing IOUs. It could issue upwards of $3 billion in IOUs to pay for such items as tax refunds, welfare, and vendor bills.

Continue reading Are you going to trade California IOUs?

Are you going to trade California IOUs? originally appeared on BloggingStocks on Mon, 06 Jul 2009 13:40:00 EST. Please see our terms for use of feeds.

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