From Bloomberg: News 2/19/09
California’s Legislature approved tax increases and spending cuts..a $13 billion tax increase passed.
Banks that already got cash from the U.S. Treasury after losses tied to mortgage securities may have to add billions to reserves for credit-card defaults, straining capital levels further. They are cutting credit lines, raising interest rates .
Edited by linrom1, 19 February 2009 - 11:30 AM.