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2.7%  Q1 GDP    4.57%  avg. 30-year mortgage     9.5%  Unemployment

Bailout for The Governator?

California Gov. Arnold Schwarzenegger has a not-so-little problem. According to an L.A. Times story this morning, the state of California is running low on cash and, because of the credit crisis, officials there can't get their hands on short term loans needed to fund the daily operations of government. He sent a warning letter yesterday to Treasury Secretary Henry M. Paulson:

Dear Hank, I may soon need a little loan for, oh, let's call it $7 billion.

By Michael S. Rosenwald  |  October 3, 2008; 9:30 AM ET
Categories:  The Ticker  
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Comments

Hollywood is loaded with cash and then there is Beverly Hills. People are living like royalty out there. Google has all kinds of cash. Now they all want a bailout. The private jet payments are coming due and rent needs paid at the NASA Googleplex.

Posted by: JD in PA | October 3, 1908 11:41 AM | Report abuse

i read that with his german accent. makes it more fun.

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Posted by: Anonymous | October 3, 1908 12:03 PM | Report abuse

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