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Unknown terrain for economy

HUNTING FOR CASH 'I don't think any treasurer alive could say they've ever seen anything like this,' said the state's Timothy P. Cahill. HUNTING FOR CASH "I don't think any treasurer alive could say they've ever seen anything like this," said the state's Timothy P. Cahill.
By Robert Gavin and Casey Ross
Globe Staff / September 30, 2008

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In an example of how fragile credit markets have become, the state of Massachusetts yesterday tried to borrow $400 million to make its routine quarterly local aid payments to cities and towns. State treasury officials said the credit markets abruptly froze midday, leaving them $170 million short. The state will have to use its own funds to complete the local ... (Full article: 875 words)

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