Robbing Peter to Pay Paul

A California appeals court on Tuesday <strong><a href="http://www.courts.ca.gov/opinions/documents/C079835.PDF">ordered</a></strong> state officials to immediately return $331 million – the proceeds of a national settlement in the subprime mortgage lending fiasco – which the Legislature unlawfully misappropriated to prop up the general fund.

SACRAMENTO, Calif. – A California appeals court on Tuesday ordered state officials to immediately return $331 million – the proceeds of a national settlement in the subprime mortgage lending fiasco – which the Legislature unlawfully misappropriated to prop up the general fund.

Categories / Appeals, Financial, Government, Regional

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