Arizona borrows $700M line of credit for 2009| Phoenix Business Journal


zyakaira notes: To date the Jobs report at recovery.gov is showing jobs being created in non existent (congressional) districts, Arizona RE is still down 75-90% over 2007..it all happened here and they are borrowing more from a private bank, why doesn’t the Obama Administration print for them? We know ist is irreproachably above the law and all that but the stimulus has a lot of these funds still available!! Jobs are not really happening, mortgages are not being denominated in the numbers provided for.. and the Healthcare bill not fall short unless we find where the real money would be needed in the pipeline..best of luck to recovery.gov

On the other hand, it’s good that the bank can get together for Arizona right now, may be it will just get paid from one of Geithner subscribed kitties down the line..

You think you owe your bank and credit card company a lot of money?

The state of Arizona is primed to take out a $700 million line of credit (essentially a loan) with Bank of America (NYSE: BAC) to help deal with its budget deficits and financial woes.

The Arizona State Loan Commission will hold a meeting on the BofA credit line/loan on Thursday, State Treasurer Dean Martin said Wednesday.

The agenda of the meeting includes notations that in order to discuss the loans, the Loan Commission may go into closed-door sessions that will not be open to the public.

The state faces large budget deficits that could total as much as $4.5 billion for the rest of this fiscal year and the next budget year.

The Loan Commission comprises Martin, Gov. Jan Brewer and Arizona Department of Administration director David Raber.

 

State plans to take out $700M line of credit – Phoenix Business Journal:.

Advertisements

About zyakaira

Investment Banker, 40s, Bangalore This Biopic and this web recreates how one point of view, one person can impact a tremendous economic engine that the world thrives and mis-thrives on. This one has the knowledge and the civil sense , the art of conversation and some good writing to mentor others as powerful and help global managers develop and fine tune their approach on US markets, China, India and the world. Read on here, and let me know what you need. It can be a race for TRPs, a race for new markets and a race to do what is right. I have the pulse of the crisis, the recovery and the market direction and can help you build and refine your strategy as i have helped thousands of managers and multiple global corporations. Of course, it’s more fun if you talk to me. I am in favor of leading this moving of the economic crisis and will partner with you in a soft and subtle way, just the way we both ride to the top. But you can write with us, opine and just reply with aplomb and shine on Twitter , 4 square , Facebook and any other social “choupal” of choice via zyaadakairaada Profile & Portfolio - SocialPicks Different flavours at: http://benchilibowl.wordpress.com http://zyaada.mp

Posted on November 19, 2009, in Obamanomics, TARP, US and tagged , , , , , , , , , , , . Bookmark the permalink. Leave a comment.

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: