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Investors have spoken: The Golden State is still golden. Despite a global financial crisis that has all but petrified credit markets, California Treasurer Bill Lockyer had no trouble selling $5 billion in short-term notes during a three-day sale that ended... Full Article at Sacramento Bee
Related Articles
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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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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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Why pay a broker? ... There's no fee with U.S. savings bonds, and I can buy those online.
– Mike Garcia SOURCE: Sacramento Bee -
We went into this estimating our total needs would be $7 billion. That's our current number
SOURCE: Sacramento Bee -
It's a good deal ... I look at it like this: If the state of California goes away, I'll have a lot more to worry about than getting my money back.
SOURCE: Sacramento Bee -
The success of this deal far surpassed all expectations
