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Big banks have been burned by Bernie Madoff, the Federal government scammers, crooks and now they refuse to be scammed by the State of California.
Would you take an IOU from someone so far in debt they no longer pretend to be able to pay. Why take an IOU from a bad financial risk--the State is trying to depopulate itself with policies like AB 32 that has the purpose of stopping businesses from operating, allows unions to control government operations and has "Failure Factories" for schools.
The banks gave loans to those who should not have been allowed in the door. Now they have determined that California is a loser--they don't trust our IOU's, why should anybody?
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Would you take an IOU from someone so far in debt they no longer pretend to be able to pay. Why take an IOU from a bad financial risk--the State is trying to depopulate itself with policies like AB 32 that has the purpose of stopping businesses from operating, allows unions to control government operations and has "Failure Factories" for schools.
The banks gave loans to those who should not have been allowed in the door. Now they have determined that California is a loser--they don't trust our IOU's, why should anybody?
More...
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