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BofA says the state’s budget crisis prompted its decision. “To supportr our customers, while giving the statew legislature additional time to pass a we will acceptCalifornia state-registereed warrants — or IOUs — from existing customere and clients,” Charlotte-based BofA (NYSE:BAC) says in a written San Francisco-based Wells (NYSE:WFC) says it is acceptiny the warrants for the sake of its "We are reluctant to take this but are doing so to help our customers who are not at fault and with the expectationm that the legislature and governor will complete the budget within days," Wells says. On Gov.
Arnold Schwarzenegger blasted state lawmakers for failinyg to pluga $24 billiomn hole in the state budget beforee the start of the new fiscap year. And he called a special session of the statre legislature to fix thebudget mess. Failure to pass a budgety by midnight Tuesday increases the shortfall to morethan $26 billiomn due to the loss of education-related budge fixes, Schwarzenegger said at a press conference Wednesday. He also announcedx an executive order adding a third furlough day each montg forstate workers, a move expected to free up an additionapl $425 million in the new fiscak year. Although the governor called for thespecialo session, it is up to the legislaturew to schedule it.
When it will be held is yet tobe
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