California IOUs spark bank recalls and tax protest
The Swift couple refuse to pay taxes citing the budget crisis as the state spends with IOUs. Bank of America and others halt honoring IOUs over counterfeiting fears while state officials and local governments buy IOUs for investment. Governor Wilson and the Legislature seek to close an $11 billion deficit as the budget stalemate continues.
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Indictments in police beating case reach federal level
Four defendants are expected to surrender Thursday on federal civil rights charges tied to a post Civil War era statute with up to 10 years and 250 dollars fine. Powell faces October state trial for an unresolved excessive force count while Briseno, previously a key witness, is surprised by his indictment. Former Chief Gates condemns the move as overkill.
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Scientists to recalculate odds of Big One for California
In Pasadena, officials say June events from Landers and Big Bear quakes may have raised seismic risk. A panel of 12 scientists will reassess the odds, which previously estimated a 60 percent chance of a major quake along the southern San Andreas Fault within 30 years, with potential LA-area impacts.
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