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« Floyd Norris Hits the Bull's Eye | Main | Judge Ramos Blocks Wells Fargo Takover of Wachovia »

October 3, 2008

The Next Bailout? California

California apparently needs an emergency loan of $7 billion.  Those banks who have written credit default swaps on California municipal bonds will now face huge payments.  Should we bail them out too by buying the "toxic" paper?

October 3, 2008 | Permalink

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