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While the state needs to borrow a total of $7 billion for the fiscal year that ends June 30, California officials decided initially to try borrowing $4 billion this week given the recent Wall Street meltdown and worldwide credit crunch. Full Article at San Francisco Chronicle
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Investors have spoken: The Golden State is still golden. Full Article at Sacramento Bee
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LOS ANGELES, Oct. 16 (Xinhua) -- California has successfully sold 5 billion U.S. dollars of short-term bonds, ending earlier concerns that the state would run out of cash by the end of this month amid the current credit crunch, officials said... Full Article at Xinhua
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California has narrowly averted a cash crisis after successfully raising $5bn in the credit markets, with most of the money coming from retail investors who answered a rallying call from Arnold Schwarzenegger. Full Article at Financial Times
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SACRAMENTO — Concerns that California would run out of money later this month ended today after the state successfully sold $5 billion of short-term bonds despite troubles in the credit market. Full Article at The San Jose Mercury News
Related Quotes
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Unfortunately the reality is that (with the sale of the RANs) we've avoided the worst case scenario, which is not being able to pay our bills ... And the bad news is that we'll probably need to float more debt because of the current state of the economy. Corporate taxes will be down, retail sales tax wi...
SOURCE: San Francisco Chronicle -
The trick is determining exactly what the magnitude of the problem is and addressing it with a single set of actions
SOURCE: San Francisco Chronicle -
The success of this deal far surpassed all expectations ... Californians stepped up and invested in record numbers, showing their faith in the state's strong credit.
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It's a big goal ... but we're a big university.
– William Powers SOURCE: Houston Chronicle
