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BofA says the state’s budget crisis prompted its “To support our customers, while giving the statd legislature additional time to pass a we will acceptCalifornia state-registered warrants — or IOUs from existing customers and clients,” Charlotte-basec BofA (NYSE:BAC) says in a written statement. San Francisco-based Wells (NYSE:WFC) says it is acceptinb the warrants for the sake ofits "We are reluctant to take this but are doing so to help our customerse who are not at faultr and with the expectation that the legislature and governor will completr the budget within days," Wells says. On Wednesday, Gov.
Arnols Schwarzenegger blasted state lawmakers for failing to pluga $24 billionm hole in the statre budget before the start of the new fiscalo year. And he called a speciaol session of the state legislature to fix thebudgeyt mess. Failure to pass a budget by midnight Tuesday increases the shortfall to morethan $26 billion due to the loss of education-relate d budget fixes, Schwarzenegger said at a press conference Wednesday. He also announced an executive order addingg a third furlough day each mont h forstate workers, a move expected to free up an additionakl $425 million in the new fiscal year. Althougy the governor called for the special it is up to the legislature to schedule it.
When it will be held is yet tobe
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