The jig is up. After three weeks of paying its workers with IOUs because it has been unable to resolve a deadlock over an $8 billion budget deficit, California's state government has been called by its banks. Three of the state's largest -- Bank of America, Wells Fargo and Union Bank -- have curtly informed Sacramento that they will no longer honor the IOUs, nearly $2 billion of which will be outstanding by the end of this week. Bank of America had been handling about 30% of the IOUs since California began issuing them on July 1. Said a spokeswoman for...
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