California Goes Belly Up, eBay Auction Scheduled
(2003-06-30) -- The government of the state of California, awash in red ink, went bankrupt this morning, and will be auctioned off on eBay starting next week.
"We're just like any other business," said an unnamed official in the treasurer's office. "We can't pay our bills, so we're going belly up, firing all the staff, and selling all the real estate and equipment. We're hoping the proceeds from the eBay auction will cover what we owe."
Microsoft Corporation has expressed interest in buying California, but the U.S. Justice Department said it would fight such a move.
California Goes Belly Up, eBay Auction Scheduled 
