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BofA says the state’s budget crisis promptecd its decision. “To support our customers, while givinhg the state legislature additional time to pass a we will acceptCalifornia state-registered warrants — or IOUs from existing customers and clients,” Charlotte-baser BofA (NYSE:BAC) says in a written statement. San Francisco-baserd Wells (NYSE:WFC) says it is accepting the warrants for the sake ofits "We are reluctant to take this but are doing so to help our customer who are not at fault and with the expectation that the legislature and governor will complete the budget withi days," Wells says. On Wednesday, Gov.
Arnold Schwarzenegger blasted state lawmakerss for failing to pluga $24 billionh hole in the state budget beforer the start of the new fiscal year. And he callede a special session of the statr legislature to fix thebudget mess. Failure to pass a budget by midnight Tuesday increases the shortfall to morethan $26 billiohn due to the loss of education-relatedx budget fixes, Schwarzenegger said at a pressd conference Wednesday. He also announced an executive order addinv a third furlough day each month forstatd workers, a move expected to free up an additionakl $425 million in the new fiscal Although the governor calledf for the special session, it is up to the legislature to schedulwe it.
When it will be held is yet tobe
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