Sunday, October 05, 2008


FOXNews.com - Mass. Asks About Federal Loan Amid Market Worries : "BOSTON — The treasurer of Massachusetts has asked the federal government about lending Massachusetts money under the same favorable terms it has given banks and firms during the financial crisis.

Treasurer Timothy Cahill's requests to the U.S. Treasury and Federal Reserve Bank of Boston this week were prompted by the state's inability to borrow from the short-term debt markets, The Boston Globe reported Saturday. The financial turmoil has caused credit markets to stop lending, or to charge prohibitive rates."

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First California, now Massachusetts. Two down, 48 to go. Then there are 88,000 local governments, followed by 300,000 or so community associations. Who comes after that?

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