California Begins Printing IOUs; Bank Of America To Cash Them Through July 10

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02 July 2009 5:33 PM ( 252 days ago)
California began printing IOUs on Thursday, planning to pay state vendors and taxpayers with the documents for the second time since the Great Depression and the first time since 1992.The need for the IOUs rose during California's recent budget crisis, in which the state's deficit reached $24....
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