4 ms·
Were bonds actually issued to the small business owners in this case? The article only mentions the nebulous "IOU's"
by DannoHung 17y ago
Were bonds actually issued to the small business owners in this case? The article only mentions the nebulous "IOU's"
- deleted 17y ago[deleted]
- ckinnan 17y agoYeah, the SEC determined they are "securities" or bonds...they pay an interest rate.
- JimmyL 17y agoThey're IOUs because the average person reading the stories about them won't understand what it means if they said they were bonds (they'd think commercial paper, if anything). If you read hardcore financial papers, they're effectively bonds backed by the State of California.