Friday, October 3, 2008

Schwarzenegger: Calif. may need $7 billion loan

Report: Governor sent letter to Treasury Secretary Paulson to ask for help

California may need an emergency loan of up to $7 billion from the federal government within weeks, the Los Angeles Times on Friday quoted Gov. Arnold Schwarzenegger as saying in a letter to U.S. Treasury Secretary Henry Paulson.

In the letter dated October 2, Schwarzenegger called for the passage of the $700 billion financial industry bailout plan which the U.S. House of Representatives is expected to vote on Friday, the Times said.

Read full story MSNBC

Posted by Phoenix Personal Injury Lawyers

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