The pigs smell the slop from congress. Like pigs to a trough the failing states and failing business will line up for rescue from their poor management. Look at California the most liberal state we have, then the other liberal states. Liberalism has them all in trouble just like the Washington democrats got lending agencies in trouble with sub-prime lending rates. The poor, the poor, everyone is entitled to a home. Sure they are, but work for it.
Schwarzenegger to U.S.: State may need $7-billion loan
In a letter obtained by The Times, the governor warns that tight credit has dried up funds California routinely relies on and it may have to seek emergency aid within weeks.
By Marc Lifsher and Evan Halper, Los Angeles Times Staff Writers
October 3, 2008
SACRAMENTO -- California Gov. Arnold Schwarzenegger, alarmed by the ongoing national financial crisis, warned Treasury Secretary Henry M. Paulson on Thursday that the state might need an emergency loan of as much as $7 billion from the federal government within weeks.
The warning comes as California is close to running out of cash to fund day-to-day government operations and is unable to access routine short-term loans that it typically relies on to remain solvent.