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Are you going to trade California IOUs?

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?

Symbol Lookup
IndexesChangePrice
DJIA-59.9410,391.01
NASDAQ-14.702,161.31
S&P 500-5.321,100.92

Last updated: November 24, 2009: 11:32 AM

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