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IPFS News Link • Economy - Economics USA

Wells Fargo CEO says California in 'financial ruin'

“The state of California is in financial ruin,” Stumpf told those attending a statewide microfinance lenders’ conference at Stanford University. “The budget deficit in California is staggering.”

2 Comments in Response to

Comment by William1950
Entered on:

California is in great shape! The failure is in the education of its leaders.
California can change the red at the bottom of the balance sheet to a very thick black by making hard changes to government, at every level.
First the state government will go on a three day week or ten hours a day for eight months. Wages will be cut equal to time at work and all management will be cut by fourty percent for the same time. Health care will stay but retirement will be limited. Education will be changed to six classes a day, the amount of money paid to each school will go to the student/parent to decide what school they want to attend, private or public. English will be taught with Spanish as a secondary language. Grass will become a minor, same as drinking for one ounce in passission and anyone now in peison on such charges will be released. All Mexican nationals will be given to the feds to handle. There are many more cost savings that can take place.

Comment by Jet Lacey
Entered on:

Hey, I must admit that Powell looks better than I thought he would with no shirt on.

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