This recession is raising all sorts of interesting sideshows. The most recent being the California IOU issuance. There are some that see this as no less than a threat to the Union. First consider that the state is working through a bill to make the IOU’s legal tender for the payment of all fees, taxes […]
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The Market In California IOUs
Posted by Tom Lindmark on July 10th, 2009
Evan Newmark at The Deal Journal has a very clever column up on the California IOUs. Here’s a bit of it: Who says the American genius for financial innovation is dead? Nine months after Wall Street nearly destroyed itself, and we already have a burgeoning new securities market: California IOUs. Apparently, the SEC wants these […]
