Free Republic
Browse · Search
News/Activism
Topics · Post Article

To: Clintonfatigued

When CA defaults on its bills and bonds it will be bankrupt. Legal or not.
If they actually think they can force the state to raise taxes to cover it..they are wrong. The people won’t pay more.


9 posted on 02/10/2010 4:50:59 PM PST by Oldexpat
[ Post Reply | Private Reply | To 6 | View Replies ]


To: Oldexpat
When CA defaults on its bills and bonds it will be bankrupt. Legal or not.

California can't be forcefully liquidated or restructured is the point. Nobody can lay claim to assets to satisfy debts after default which is what bankruptcy is.

19 posted on 02/10/2010 5:32:30 PM PST by Poison Pill
[ Post Reply | Private Reply | To 9 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson