Thursday, July 9, 2009
Wells Fargo started in California on March 18, 1852.
Bank of America started in California on October 17, 1904 (it was originally called "Bank of Italy").
These two banks owe their prosperity to the state of California.
But now, Wells and B of A are refusing to honor California's IOUs (as are JPMorgan and Citigroup).
Is California going to take this lying down?
Is Schwarzenegger - the former world champion bodybuilder who played the Terminator and Conan the Barbarian - going to just give up?
Or will California take back control over its money system by forming its own bank?
Read this to learn how and why it should be done.