[Blogs] California now running short of cash

California could in a few weeks run out of cash to pay for basic services, as it cannot raise short-term loans in the frozen credit markets, and is seeking a $7 billion loan from the U.S. Treasury. I don’t understand UK local authority finance - could similar happen in the UK? I would have thought that local authority bonds would be highly desired in the current climate as safer than private banks, so finance would still be fairly easy. But in the U.S. States and Cities can go bankrupt, as New

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[Blogs] California now running short of cash