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Special Device Help Prevent Suddent Infant Death

Special Device Help Prevent Suddent Infant Death

Researchers from Germany's Fraunhofer Institute for Reliability and Microintegration IZM in Berlin has developed a new breathing sensor system that help prevent Sudden Infant Death Syndrome (SIDS). This syst...

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University Installs Grass Lawn in School Library

University Installs Grass Lawn in School Library

Cornell University has built a grass lawn inside their school library as a part of a project of their institution's Department of Design and Environmental Analysis. The department is currently conducting a r...

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Wash Your Clothes in a Portable Washing Machine [Video]

Wash Your Clothes in a Portable Washing Machine [Video]

Meet, the Scrubba, a portable washing machine, in form of a bag. This wash bag, allows people to do their laundry, on-the-go. The Scrubba is a lightweight, foldable bag that features small nodules to help sc...

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Fart-Deodorizing Underwear Sold in Japan

Fart-Deodorizing Underwear Sold in Japan

Thanks to Japan's new invention, the Deoest underwear, extreme farters can now release their foul smelling gas and prevent people near them from fainting. It is a fart-deodorizing underwear, created by Profe...

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In Case US Defaults: California Borrows $5.4 Billion

Written on July 27, 2011 by Japhet Writ

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In the event that Congress fails to meet its deadline, the bridge loan would be used to help California pay its bills.

Gearing up for bond market turbulence, the state of California considered asking Wall Street for a bridge loan. It is now reported that the state’s Treasurer Bill Lockyer already secured $5.4 billion from short-term loans, with Goldman Sachs and Wells Fargo carrying out the loan bulks. This bridge loan will aid the state in case the Congress fails to raise the $14.3 trillion debt ceiling by August 2.

However, the Treasurer Bill Lockyer fears that US default could lock California out of the municipal market. Moreover, the US default shock wave is believed to reverberate across the financial system, causing state and local finance crises.

In addition to this, Moody’s Investors warned that US’ loss of AAA credit rating would push automatic ranking cuts on at least 7,000 municipal ratings.

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