California on the edge of bankruptcy - FRANCE 24

Latest update: 21/07/2009

- California - debt - Economic crisis - housing

California on the edge of bankruptcy

California is on the edge of bankruptcy, with credit dried up and banks closed. Schwartzenegger and state legislators just agreed to a plan to help cover the $26 Bln deficit. What happened to the state, ranking as the world's 8th largest economy?

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