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Title: California One Step Closer To Insolvency After State Cancels $2 Billion General Obligation Bond Sale
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Published: Feb 25, 2010
Author: Tyler Durden at Zero Hedge
Post Date: 2010-02-25 00:35:17 by Nebuchadnezzar
Keywords: None
Views: 350
Comments: 22
California One Step Closer To Insolvency After State Cancels $2 Billion General Obligation Bond Sale Tyler Durden's picture Submitted by Tyler Durden on 02/24/2010 20:59 -0500 Five days ago a great white hope appeared for the great bankrupt Golden State (Baa1/A-), in the form of $2 billion in GO bonds, which were supposed to be promptly syndicated via underwriters JPMorgan and Morgan Stanley. This would have been the first bond sale for California since November: a critical milestone as the state creeps ever closer to a full-on default. Unfortunately, the creeping just turned into a casual jog after Jane Wells (@janewells) just tweeted that California has cancelled its bond sale "after legislature fails to approve cash management flexibility bill [the] Treasurer said he needed to attract investors."And seriously, did California think it would succeed where so many other high yield issuers have recently failed? Below is the official bond sale calendar from Lockyer's website.
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#1. To: All (#0)
Pay close attention people, this is what happens when you vote in Democrats into office.
Goldi-Lox: You're one dumb-fucking bitch.
And Pubbies like the one that was exhaulted by the GOP as being the next savior of California.....(drum roll)... Governor Ahnold. The real conservative candidate McClintock couldn't get the time of day from the party. And the first thing Ahnold went for was a huge government land grab. It's for the peeeples you know! LOL
How about including links in your posts so we can go to the source?
CA recalled a Dem governor and has been under GOP rule for almost 4 years now... QUICK: Remind everyone that Arnold is a RINO and had a REAL republican been elected they wouldn't have this problem.
Day 4 of Packrat refusing to register here. Day 2 Of Boofer The One Eyed Wonder Bot refusing to answer: When is Blackwell going to have the recount?
A quick history lesson for those who have forgotten, but California's debt problems became acute after Enron scammed the electric utilities, sending them into bankruptcy. I believe that the now dead CEO of Enron was a friend of George Bush's called "Kenny Boy" by the Bushster. "Although Governor Davis has refused to release information about how much the state government has spent to subsidize the utilities, it is estimated that California is spending $50 million a day on power purchases, with total expenditures thus far reaching $5 billion. This has produced a severe financial crisis for the US's most populous state." http://www.wsws.org/articles/2001/apr2001/cali-a12.shtml
Do you not know how to use google? Links are optional on LF.
Goldi-Lox: You're one dumb-fucking bitch.
And the first thing Ahnold went for was a huge government land grab. It's for the peeeples you know! LOL Arnold...Meg...Carly F...they're not conservative. They are not small government. They are Democrats who masquerade, like Bush did, at being conservative.
Goldi-Lox: You're one dumb-fucking bitch.
Not doubting but want verification of this... Stoney...true?
Day 4 of Packrat refusing to register here. Day 2 Of Boofer The One Eyed Wonder Bot refusing to answer: When is Blackwell going to have the recount?
Can you give us an example of a "real" republican please? Thanks...
Day 4 of Packrat refusing to register here. Day 2 Of Boofer The One Eyed Wonder Bot refusing to answer: When is Blackwell going to have the recount?
But they are a courtesy. Do you have a problem showing your sources?
Chyea...it's what happens when you let a "free market" [which was anything but] administer vital services...
Day 4 of Packrat refusing to register here. Day 2 Of Boofer The One Eyed Wonder Bot refusing to answer: When is Blackwell going to have the recount?
The official bond sale calendar shows the bond sale date as TBD, not canceled.
The Enron scam was the beginning of the end for California solvency. We've been digging out from under it ever since. May Kenny rot in hell, and may George Bush join him there soon. This is what you get when you deregulate essential markets and implement "small government conservatism" to ignore the sharks going for the kill.
I wonder if this guy will answer the ad? He should be alive now...
Day 4 of Packrat refusing to register here. Day 2 Of Boofer The One Eyed Wonder Bot refusing to answer: When is Blackwell going to have the recount?
Why did you send me to that far out link?
I can't see your image...but that nutjob radio guy from late at night, [Art Bell?] used to have John Titor specials...he got me from Minneapolis, MN to North Central Bumfuck, MN one night better than any cup of coffee could have...
Day 4 of Packrat refusing to register here. Day 2 Of Boofer The One Eyed Wonder Bot refusing to answer: When is Blackwell going to have the recount?
Nobody 'exaulted' Arnold within the GOP. McClintock never stood a chance in a statewide race.
my anti groupie can't get through life without me.
BS. I heard all the GOP rhetoric here, and McClintock didn't stand a chance because his party wouldn't stand behind him. It's one of those self fulling prophecies the GOP wants the voters to ignore time and time again.
Boofer forgets that there is a database that doesn't lie...(laughing)
Day 4 of Packrat refusing to register here. Day 2 Of Boofer The One Eyed Wonder Bot refusing to answer: When is Blackwell going to have the recount?
McClintock didn't stand a chance in California because he's a conservative and because he has the charisma of a block of coal. You heard the GOP 'rhetoric here' and convinced yourself this small forum represented the entire national party, huh? Ooookay....(laughing)
my anti groupie can't get through life without me.
Believe whatever feeds your delusions. McClintock was marginalized by the state GOP so the big name with almost 100% recognition Ahnold could grab a win for the GOP with a minimum of expense.
McClintock had zero chance of winning. Nuff said.
my anti groupie can't get through life without me.
#2. To: Nebuchadnezzar (#1)
Pay close attention people, this is what happens when you vote in Democrats into office.
#3. To: Nebuchadnezzar (#0)
#4. To: Nebuchadnezzar (#1)
(Edited)
#5. To: war (#4)
#6. To: Skip Intro (#3)
How about including links in your posts so we can go to the source?
#7. To: mininggold (#2)
And Pubbies like the one that was exhaulted by the GOP as being the next savior of California.....(drum roll)... Governor Ahnold. The real conservative candidate McClintock couldn't get the time of day from the party.
#8. To: Nebuchadnezzar, A K A Stone (#6)
Links are optional on LF.
#9. To: Nebuchadnezzar (#7)
#10. To: Nebuchadnezzar (#6)
Links are optional on LF.
#11. To: Skip Intro (#5)
A quick history lesson for those who have forgotten, but California's debt problems became acute after Enron scammed the electric utilities, sending them into bankruptcy.
#12. To: Nebuchadnezzar (#0)
Below is the official bond sale calendar from Lockyer's website.
#13. To: war (#11)
#14. To: Skip Intro (#12)
#15. To: war (#14)
#16. To: Fred Mertz (#15)
#17. To: mininggold (#2)
#18. To: Badeye (#17)
Nobody 'exaulted' Arnold within the GOP. McClintock never stood a chance in a statewide race.
#19. To: mininggold, Badeye (#18)
(Edited)
Nobody 'exaulted' Arnold within the GOP
#20. To: mininggold (#18)
#21. To: Badeye (#20)
You heard the GOP 'rhetoric here' and convinced yourself this small forum represented the entire national party, huh?
#22. To: mininggold (#21)
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