Article

2013-08-18 Government

Chicago Home County Cut by Moody's on 'Formidable' Pensions

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Posted by Fred 2013-08-18 11:13|| || Front Page|| [12 views ] Top

#1 My only question is why it took so long to downgrade.

It's seemed to me for a long time that the various investment rating agencies were prime suspects in the corrupt financial system and its collapse. All those derivatives and packaged deals were just too good to be true.

Posted by AlanC 2013-08-18 13:52|| 2013-08-18 13:52|| Front Page Top

#2 AlanC it's Chicago polyticks

Posted by Bright Pebbles 2013-08-18 17:21|| 2013-08-18 17:21|| Front Page Top

#3 I can't wait for the next bond offering (read - no takers); then Chicago officially becomes Detroit 2 - Electric Boogaloo...

Posted by Raj 2013-08-18 18:32|| 2013-08-18 18:32|| Front Page Top

#4 that's the problem for Cities, Raj. You pay higher rates for bonds, and the first one that denies bondholders made whole starts an avalanche away from Muni Bonds

Posted by Frank G 2013-08-18 19:08|| 2013-08-18 19:08|| Front Page Top

#5 I'm sure Bernanke has been "investing" in those bonds...
Even indirectly.

Posted by Bright Pebbles 2013-08-18 19:16|| 2013-08-18 19:16|| Front Page Top

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