Getting your player ready...
SACRAMENTO, Calif. — Gov. Arnold Schwarzenegger and California’s top finance officials reacted cautiously Friday to congressional approval of the $700 billion Wall Street bailout package.
They have been worried that the credit market will hurt the state’s ability to get short-term loans to cover basic operating expenses, a step California takes each fall until the bulk of its tax revenue arrives in the spring.
Even with the bailout plan passing, Schwarzenegger predicted a difficult path ahead in the financial markets.
