[randita]

Ernest_at_the_beach and I check the major CA newspaper web sites every day. I don't recall seeing a thing about this or I would definitely have posted it.

Obviously, there was no press release about it.

Do you have an idea of how the ratings and the interest rates stack up against similar offerings?

[snopercod]

No. Robert357 is our bond guru, and he's on vacation. Maybe these other guys know.

[snopercod]

Obviously, there was no press release about it.

Well, the information I posted was a press release, supposedly posted over a month ago. Apparently, none of the news organizations chose to do a story on it.

While I was looking at the HTML of the press release for the date and time it was posted, I discovered this in the &ltTITLE;> News Release - June 18, 2002 - STATE CONTROLLER KATHLEEN CONNELL RESPONDS TO MISINFORMATION CONTAINED IN CAUSE NEWS RELEASE.

What the heck is "CAUSE"?

[monkeyshine]

These are short term. The interest is very low. It's just a place for big money to park cash over the next 6 months, earning minimal interest while they wait for something more attractive next year. That they can find so many people willing to compete for $6B loans for less than 2% means there are very few attractive investments for big money right now.

I wonder how well they would do with those $11B worth of 20 year bonds? 2% would seem rediculously low for such long term instruments. I figure that it would have to pay at least 5-7% to be attractive over such a long term, just to beat inflation. And inflation may come back soon and bite us all in the ars.