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07-30-2011, 05:52 AM | #1 |
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Moody's Investors Service has placed under review for possible downgrade the Aaa ratings of 177 public finance credits, affecting a combined $69 billion of outstanding debt. The credits include 162 local governments in 31 states, 14 housing finance programs and one university.
http://www.moodys.com/research/MOODY...ocid=PR_223648 The bond bubble.. There's going to be INTENSE pressure to bail these guys out to avoid "contagion" |
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07-30-2011, 05:57 AM | #2 |
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07-30-2011, 05:58 AM | #3 |
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07-30-2011, 06:01 AM | #4 |
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07-30-2011, 06:12 AM | #7 |
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07-30-2011, 06:13 AM | #8 |
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07-30-2011, 06:15 AM | #10 |
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OTOH, what about moral hazard?
They preached this shit for years.. "Ohhhhh, we're good at managing risk and there can be no moral hazard! why, that would be UNTHINKABLE! The market is self correcting, and we wouldn't want to spoil that!!!!" And that's exactly what they got with TARP.. and this bond issue will be the same thing.. "FUC MORAL HAZARD! GIEF US MONIES NAO!!!!!!!!" |
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07-30-2011, 06:23 AM | #13 |
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07-30-2011, 06:25 AM | #16 |
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07-30-2011, 06:26 AM | #17 |
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