To All: A commenter gave us the correct address.
http://www.mcclatchydc.com/227
Take a look at this article and then ask yourself just what the well guarded City Credit Rating really means...? This article verifies the fact that the three main bond-rating agencies have a conflict of interest that puts profit before accuracy. So aren't City pronouncements about our "swell" bond ratings possible fiction?
Does this show that the trips by Staff and the Council to New York are nothing less than show to keep up the idea that all is well? And whatever happenned to telephones?
6 comments:
An interesting article and proof that anything can be twisted for a given purpose. How valuable is the rating and does it really mean anything or save us money? How much does the city fathers and mothers plan borrow in our names?
Another scam, more cost!
How reliable is the bond rating? I think the past two years of lenders/investors/insurance failings would be enough evidence that the bond rating system is very suspect.
The rating clearly means nothing, but does allow the Fab-8 to raise taxes to keep up spending as an excuse! Such is not leadership, but is unethical. The mayor and Parr are worst at playing this game!
The wild webs we weave in the name of pulbic policy in Suffolk is truly bizzare. When they get to splitting things out and decide who gets what and how much, expect big trouble between out leaders in little Suffolk. Times are ah gettin' some friction going as some get more and many get less.
What happend to spending big dollars ($1,000,000+) on the old Court House for a new Swamp Center and Vistor's Center? HAve they finally seen the light and decided not to do this waste? Inquiring minds would like to know.
The Obama administration should end federally sanctioned cartel for credit-rating agencies. Currently the SEC must approve bond-raters, such as Moody’s, S&P, and Fitch, and that has the effect of giving them federal imprimatur. Thus if a package of sub prime junk is given a triple-A rating by one of these federally sanctioned graders, both buyers and sellers often feel no more due diligence is required. Obama and cohorts steadfastly resist reform.
For a fee, I will provide a nice report that the City of Suffolk Virginia has a "AAA Rating". Now, how do I get my check?
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