OT: “Bank of America sets cutoff for redeeming California IOUs”

[Nancy_s soothsayer]

The apathy of the masses seems to bolster the hubris of the government “servants for the public good”. For as long as the salaries and pensions are being doled out to highly paid “public servants”, they don’t care if the next guy is experiencing depression times. There should be a mass-initiated proposition that until a balanced budget is passed, your legislature and state servants should not get their salary. That would make them pass a budget in a New York minute.

[LuckyInOC]

[quote=flu]I smell a business opportunity here….For folks that give a cash advance at a steep discount of the face value of the IOU….The longer CA drags this out, the more cash strapped folks with those IOU’s will be.

I wouldn’t be surprised if folks/company with cash start offering cash to holders of those IOUs in exchange for those IOUs being purchased at a significant discount.
[/quote]

I thought I did that on another thread…

“Does anyone have about $200-300k of registered warrants they want to sell?”
http://piggington.com/ot_no_bailout_for_california#comment-124079

This is good news for me. I now get to pay my additional state taxes with state tax free money.

Yippee…

Lucky In OC

[LuckyInOC]

[quote=flu]I smell a business opportunity here….For folks that give a cash advance at a steep discount of the face value of the IOU….The longer CA drags this out, the more cash strapped folks with those IOU’s will be.

I wouldn’t be surprised if folks/company with cash start offering cash to holders of those IOUs in exchange for those IOUs being purchased at a significant discount.
[/quote]

I thought I did that on another thread…

“Does anyone have about $200-300k of registered warrants they want to sell?”
http://piggington.com/ot_no_bailout_for_california#comment-124079

This is good news for me. I now get to pay my additional state taxes with state tax free money.

Yippee…

Lucky In OC

[LuckyInOC]

[quote=flu]I smell a business opportunity here….For folks that give a cash advance at a steep discount of the face value of the IOU….The longer CA drags this out, the more cash strapped folks with those IOU’s will be.

I wouldn’t be surprised if folks/company with cash start offering cash to holders of those IOUs in exchange for those IOUs being purchased at a significant discount.
[/quote]

I thought I did that on another thread…

“Does anyone have about $200-300k of registered warrants they want to sell?”
http://piggington.com/ot_no_bailout_for_california#comment-124079

This is good news for me. I now get to pay my additional state taxes with state tax free money.

Yippee…

Lucky In OC

[LuckyInOC]

[quote=flu]I smell a business opportunity here….For folks that give a cash advance at a steep discount of the face value of the IOU….The longer CA drags this out, the more cash strapped folks with those IOU’s will be.

I wouldn’t be surprised if folks/company with cash start offering cash to holders of those IOUs in exchange for those IOUs being purchased at a significant discount.
[/quote]

I thought I did that on another thread…

“Does anyone have about $200-300k of registered warrants they want to sell?”
http://piggington.com/ot_no_bailout_for_california#comment-124079

This is good news for me. I now get to pay my additional state taxes with state tax free money.

Yippee…

Lucky In OC

[LuckyInOC]

[quote=flu]I smell a business opportunity here….For folks that give a cash advance at a steep discount of the face value of the IOU….The longer CA drags this out, the more cash strapped folks with those IOU’s will be.

I wouldn’t be surprised if folks/company with cash start offering cash to holders of those IOUs in exchange for those IOUs being purchased at a significant discount.
[/quote]

I thought I did that on another thread…

“Does anyone have about $200-300k of registered warrants they want to sell?”
http://piggington.com/ot_no_bailout_for_california#comment-124079

This is good news for me. I now get to pay my additional state taxes with state tax free money.

Yippee…

Lucky In OC

[patientrenter]

I like your response, flu.

Maybe we should call these IOUs “California bucks”. In your example, flu, each Calfornia buck can be converted to 0.65 of a Federal buck (or whatever the market determines those California bucks are worth).

This would be a nice solution to the problem of overspending by California government. All spending in California would effectively be reduced by 35%, across the board.

Of course, eventually the Federal bucks would also be convertible to less in other currencies and real goods, just like the California bucks. But that’s another few years down the road.

I know, I know, this won’t be allowed to happen – a permanent reduction in Cali govt spending. But it’s fun to dream.

[patientrenter]

I like your response, flu.

Maybe we should call these IOUs “California bucks”. In your example, flu, each Calfornia buck can be converted to 0.65 of a Federal buck (or whatever the market determines those California bucks are worth).

This would be a nice solution to the problem of overspending by California government. All spending in California would effectively be reduced by 35%, across the board.

Of course, eventually the Federal bucks would also be convertible to less in other currencies and real goods, just like the California bucks. But that’s another few years down the road.

I know, I know, this won’t be allowed to happen – a permanent reduction in Cali govt spending. But it’s fun to dream.

[patientrenter]

I like your response, flu.

Maybe we should call these IOUs “California bucks”. In your example, flu, each Calfornia buck can be converted to 0.65 of a Federal buck (or whatever the market determines those California bucks are worth).

This would be a nice solution to the problem of overspending by California government. All spending in California would effectively be reduced by 35%, across the board.

Of course, eventually the Federal bucks would also be convertible to less in other currencies and real goods, just like the California bucks. But that’s another few years down the road.

I know, I know, this won’t be allowed to happen – a permanent reduction in Cali govt spending. But it’s fun to dream.

[patientrenter]

I like your response, flu.

Maybe we should call these IOUs “California bucks”. In your example, flu, each Calfornia buck can be converted to 0.65 of a Federal buck (or whatever the market determines those California bucks are worth).

This would be a nice solution to the problem of overspending by California government. All spending in California would effectively be reduced by 35%, across the board.

Of course, eventually the Federal bucks would also be convertible to less in other currencies and real goods, just like the California bucks. But that’s another few years down the road.

I know, I know, this won’t be allowed to happen – a permanent reduction in Cali govt spending. But it’s fun to dream.

[patientrenter]

I like your response, flu.

Maybe we should call these IOUs “California bucks”. In your example, flu, each Calfornia buck can be converted to 0.65 of a Federal buck (or whatever the market determines those California bucks are worth).

This would be a nice solution to the problem of overspending by California government. All spending in California would effectively be reduced by 35%, across the board.

Of course, eventually the Federal bucks would also be convertible to less in other currencies and real goods, just like the California bucks. But that’s another few years down the road.

I know, I know, this won’t be allowed to happen – a permanent reduction in Cali govt spending. But it’s fun to dream.

[Arraya]

I don’t see this doom and gloom…In fact, as shitty as it sounds, I think it creates opportunity.

That is exactly what baxter said about swine flu.

[Arraya]

I don’t see this doom and gloom…In fact, as shitty as it sounds, I think it creates opportunity.

That is exactly what baxter said about swine flu.

[Arraya]

I don’t see this doom and gloom…In fact, as shitty as it sounds, I think it creates opportunity.

That is exactly what baxter said about swine flu.

[Arraya]

I don’t see this doom and gloom…In fact, as shitty as it sounds, I think it creates opportunity.

That is exactly what baxter said about swine flu.

[Author]

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