Saturday, November 21, 2009
Ha! What do they know
Moodys has threatened to lower New York's credit rating if the legislature doesn't do something about the deficit. Like Moodys knows what they are talking about. As we all know, even in its current state New York is much sounder than the CDO's that Moody was so fond of giving its highest rating. By that standard, New York should be getting the highest rating plus bells and whistles and extra geegaws. But I am guessing that the governor chose not to buy it.
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