Share on Google Plus Share on Twitter Share on Facebook Share on LinkedIn Share on PInterest Share on Fark! Share on Reddit Share on StumbleUpon Tell A Friend 1 (1 Shares)  
Printer Friendly Page Save As Favorite View Favorites View Stats   No comments

OpEdNews Op Eds

KMEC 105.1FM: Alberto Torrico on Arnold Schwarzenegger's end game

By (about the author)     Permalink       (Page 1 of 1 pages)
Related Topic(s): ; ; ; ; ; ; ; ; ; ; (more...) ; ; ; ; ; , Add Tags  (less...) Add to My Group(s)

Must Read 1   Well Said 1   Supported 1  
View Ratings | Rate It

Become a Fan
  (3 fans)
- Advertisement -

On June 30, 2009, I interviewed California Assembly Majority Leader Alberto Torrico, about the California State budget deadlock, on Pacifica Radio affiliate KMEC 105.1FM, in the Mendocino Environmental Center.

Since then, bond rating agencies have downgraded California debt to a BBB rating, one notch above junk bond status, and California is now racking up another $25 million per day in high interest debt.

The State is issuing IOUs, and, generating rules for transferring their ownership. Credit unions seem to be cashing the IOUs at face value; check cashing outlets are cashing them at face value, minus fees; and, B of A, Wells, and Chase will cash them at face value, until Friday, 07.10.2009, and possibly accept them as collateral for loans thereafter. CA's IOUs are already being traded speculatively, on E-Bay and craigslist.

The first CA IOUs were no doubt printed last week, but there's no news of a bust yet, and no one seems to know whether investigators would be federal or state employees, since counterfeiting is generally a federal crime, but, CA IOUs are the California's funny money. Any State investigators will, unless and until the budget deadlock breaks, be getting paid in CA IOUs.

- Advertisement -
Governor Schwarzenegger continues to demand repeal of environmental and labor protections in exchange for funding the most basic social services, in the end game that Assembly Majority Leader Torrico explained on KMEC last week:

Watch KMEC Radio Interviews Alberto Torrico on the Terminator and the California Budget in News | View More Free Videos Online at
- Advertisement -

I grew up around a radioactive toxic mess called the Puget Sound Naval Shipyard, in a gorgeous place, Washington's Olympic Peninsula, by way of Western Oklahoma, another gorgeous place. I'm a compulsive writer and sometimes I sign as (more...)

Share on Google Plus Submit to Twitter Add this Page to Facebook! Share on LinkedIn Pin It! Add this Page to Fark! Submit to Reddit Submit to Stumble Upon

Go To Commenting

The views expressed in this article are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.

Follow Me on Twitter

Contact Author Contact Editor View Authors' Articles
- Advertisement -

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

Obama, Ghana, and African oil

On the BBC's Africa Have Your Say, on Rwanda

Rwandan President Paul Kagame questions Euro justice

Kinzer compares free speech in Rwanda to yelling "Fire!" in a crowded theatre

The California Foreclosure Prevention Fraud of 2009

DU weapons use in Iraq; drastic birth defects in Fallujah


The time limit for entering new comments on this article has expired.

This limit can be removed. Our paid membership program is designed to give you many benefits, such as removing this time limit. To learn more, please click here.

Comments: Expand   Shrink   Hide  
No comments