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  • Cash-Strapped California Issues IOUs

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  • Associated Press
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Cash-Strapped California Issues IOUs

Thousands of California creditors were left with fewer options for cashing IOUs issued by the state, as several major banks said they no longer will honor them. The state began issuing IOUs as a way to save cash amid a $26.3 billion deficit. (July 13)

Associated Press | July 14, 2009Watch more videos from Associated Press

Tags:. .ious. .iou. .fewer. .deficit. .creditors