California’s economic issues have now been front and center in the press recently. That month, its credit score was cut to the reduced end of investment quality. Facing bankruptcy, Governor Schwarzenegger and legislators have performed extreme activity – attempting to sell off state assets, reducing the state’s school budget by 20% and releasing 27,000 inmates from prison. Currently the state has given necessary furloughs of three days per month to its 243,000 state employees. What’s the effect on California’s crisis on the remaining country? Think about the state’s public bondholders? Can Washington DC need certainly to help out the country’s … Read the rest