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Moody's may downgrade California's debt rating (currently four steps above junk), dryly pointing...

Moody's may downgrade California's debt rating (currently four steps above junk), dryly pointing to an "expected budget gap of over $20 billion ... the announcements ... that without solutions the state will not be able to meet all its financial obligations in July; the continued political stalemate that has resulted in inaction by the legislature thus far; and the limited solutions available to the state."
Comments (5)
  • Referee
    , contributor
    Comments (140) | Send Message
     
    what happened to *the golden state* ?
    19 Jun 2009, 12:21 PM Reply Like
  • Vuke
    , contributor
    Comments (1645) | Send Message
     
    All that glisters is not gold.

     

    On Jun 19 12:21 PM Referee wrote:

     

    > what happened to *the golden state* ?
    19 Jun 2009, 12:22 PM Reply Like
  • Clive Corcoran
    , contributor
    Comments (1207) | Send Message
     
    The ETF for the state's debt, CMF, has been behaving poorly from a technical point of view for some time.
    19 Jun 2009, 12:39 PM Reply Like
  • elliotz
    , contributor
    Comments (251) | Send Message
     
    May downgrade? HAHA these rating agencies are a joke, and why is noone talking about reforming their buisness practice since they were the major reason we had the financial system meltdown. Is it because they are politc connected?
    19 Jun 2009, 01:59 PM Reply Like
  • Poor Texan
    , contributor
    Comments (3529) | Send Message
     
    I'm beginning to think the problem with the ratings agencies is they look too much backward and not enough forward. If it looks good on their spreadsheet, they are happy but they are not factoring in the macroeconomic environment.

     

    On Jun 19 01:59 PM elliotz wrote:
    May downgrade? HAHA these rating agencies are a joke, and why is noone talking about reforming their buisness practice since they
    were the major reason we had the financial system meltdown. Is it
    because they are politc connected?
    19 Jun 2009, 02:09 PM Reply Like
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