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California On The Brink of Bankruptcy

Tags: Cramer Stock Picks, Mad Money, Mad Money TV Show
2 Jul 2:09am
Posted by Cramerican
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From the LA Times: Gov. Arnold Schwarzenegger this morning ordered state workers to take a third day off without pay each month after Republican lawmakers acting with his support blocked a Democratic proposal to ease the state’s deficit and allow the government to keep paying bills. The Republican governor unveiled billions of dollars in additional proposed cuts to schools and public universities to deal with a deficit that he says is now $26.3 billion, an increase of $2 billion. He also annou...
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Goldman Sachs Market Manipulation

Tags: Cramer Stock Picks, Mad Money, Mad Money TV Show
24 Jun 7:36pm
Posted by Cramerican
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Worth the read: Goldman Sachs Socialize
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World Bank Cuts Forecast

Tags: Cramer Stock Picks, Mad Money, Mad Money TV Show
22 Jun 12:52pm
Posted by Cramerican
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This morning the World Bank significantly cut it’s forecast and the futures are diving…remember we said this a while back… The World Bank said the global recession this year will be deeper than it predicted in March and warned that a flight of capital from developing nations will swell the ranks of the poor and the unemployed. The world economy will contract 2.9 percent, compared with a previous forecast of a 1.7 percent decline, the Washington- based lender said in a report ...
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California Cruising Towards Junk

Tags: Cramer Stock Picks, Mad Money, Mad Money TV Show
20 Jun 11:57pm
Posted by Cramerican
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Looks like we might get our answer sooner than later… here we go: SAN FRANCISCO,  (Reuters) – California, struggling to close a $24.3 billion budget gap, faces the prospect of a “multi-notch” downgrade in its credit rating if the state’s legislature fails to act quickly to produce a budget, Moody’s Investors Service warned on Friday. The ratings agency’s decision to place California’s general obligation debt on alert for such a dramatic possible downgrade stunned state officials. “I cann...
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California Bankrupt or Citi Broken Up?

Tags: Cramer Stock Picks, Mad Money, Mad Money TV Show
14 Jun 10:08pm
Posted by Cramerican
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As we head into a new week, I got to thinking, I wonder which will happen first…will Citi Bank be split up before or after California goes bankrupt?  Although that sounds tongue and cheek it is a real possibility that one if not both of these events will occur.  California Governor Arnold Schwarzenegger has issued an executive order in an attempt to address the serious financial issues facing the State whereby all “contracts proposed to be entered into during the 2008-2009 fiscal y...
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