News In Brief

California isn’t ‘Greece of the U.S.’

Daryl Paranada Apr 1, 2010

California and Greece may both be associated with overwhelming debts, but California’s debts are outperforming Greece’s bonds, according to a report from Bloomberg.

Large funds have recognized that California’s ultra-risky credit rating may have been exaggerated, and the cost to protect against the state not paying its obligations is the lowest relative to Greece in at least 15 months, according to the report. California sold $3.4 billion in taxable debt last week at its lowest costs since November.

Meanwhile, back in Greece, we reported last week that Eurozone countries have agreed on a bailout program for Greece that involves the International Monetary Fund.

We’re here to help you navigate this changed world and economy.

Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.

In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.

Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.