BOA loans Arizona 700 million. - Democratic Underground

dixiegrrrrl

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Thu Dec-03-09 01:52 PM
Original message

BOA loans Arizona 700 million.

Uh..doesn't BOA owe all of us money?

I wonder what the loan terms are to Arizona?

I know BOA HAS to be making money on the deal.

"On Nov. 19, the state finalized a loan agreement with Bank of America for $700 million, the first time since the Depression that Arizona has needed to turn to an outside borrower."

http://www.azcentral.com/news/election/azelections/articles/2009/12/02/20091202arizona-budget-ON.html

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notesdev

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Thu Dec-03-09 02:03 PM
Response to Original message

1. AZ has already spent the entire thing

now they're in the same position they were in 2 weeks ago.

Cash-short Arizona maxes out new line of credit
http://ktar.com/?nid=6&sid=1238176

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