The FED plans on buying billions of their bad debt. Obama can’t save them because of last night. But the FED is going to buy alifornia bonds. So in the end, the rest of the country will end up bailing them out.
Why has no one in the press reported this? The FED rules were very clear that STATE DEBT WILL BE PURCHASED!!
Oh, and New York too.
The FED plans on buying billions of their bad debt. Obama can’t save them because of last night. But the FED is going to buy alifornia bonds. So in the end, the rest of the country will end up bailing them out.
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Will make the Fed very unpopular especially if we have inflation.