California's creditors look to options for IOUs
• APThousands of vendors who do billions of dollars of business with the state of California are scrambling as major banks say they will no longer honor the state's IOUs.
Despite pressure from the state treasurer, JPMorgan Chase & Co., Bank of America Corp., and Wells Fargo & Co. and other major banks planned to stick to their plans and not honor California's warrants after Friday. State Treasurer Bill Lockyer announced Citigroup Inc. agreed to a one-week extension through July 17.
