Posted on 07/10/2009 12:49:14 PM PDT by Kartographer
NEW YORK (CNNMoney.com) -- Californians will have fewer places to redeem IOUs issued by the cash-strapped state after Friday.
At least three major banks, Wells Fargo (WFC, Fortune 500), JPMorgan Chase (JPM, Fortune 500) and Bank of America (BAC, Fortune 500), will stop accepting the IOUs, as they'd previously announced.
More than 60 credit unions, however, will continue to accept the paper.
(Excerpt) Read more at money.cnn.com ...
Before 10/02/2009, expect to get a letter that begins....Due to unexpected circumstances we are sorry to inform you that... (A new payout date.)
Why am I not surprised?
If these business vendors were stoopid enough to conduct business with an incompetent, corrupt, pro-illegal alien, anti-businesses state government, then they deserved what they get. In spades.
This should be a good lesson for them, and a warning to all.
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