California Won't Accept Its Own IOUs

http://www.courthousenews.com/2009/08/04/California_Won_t_Accept_Its_Own_IOUs.htm

I don't believe that we are nearing the end of the recession as the government would have a believe. It will only continue to get worse, this is just the beginning, IMO

 

The OP is only partially true. The problem wasn't with the state-issued registered warrants (aka, IOU's), the problem is with the fact ther this woman had just recently opened a new checking account, and her bank wanted to put a hold on the funds.