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States slashing budgets amid credit crunch and pension losses
States face big revenue drops and pension fund losses as budgets are slashed, jobs cut, and major projects halted. Governors warn of possible federal loans for operating costs while lawsuits against Wall Street firms rise. Connecticut sues rating firms and banks amid mortgage backed securities concerns.
MENTIONED IN THIS ARTICLE
Wall Street
California
Washington
Arnold Schwarzenegger
Murray Levy
Maryland
New York
Gu Iterson
Patrick May
Massachusetts
Indiana
Pennsylvania
Colorado
Virginia
Tim Kaine
Chris Gregoire
Utah
North Carolina
Missouri
St. Louis
Minnesota
Connecticut
Iowa
West Virginia
AIG
Fannie Mae
Freddie Mac
Lehman Brothers
Merrill Lynch
Washington Mutual
Joe Manchin
New Jersey
William Clark
Pension Board
Lehman
SEC
Richard Blumenthal