Much of the routine trade and investment between China and America is entirely appropriate and in America’s interest. But inserting the Chinese Communist Party into America’s pay-to-play system and its economic development strategy isn’t just crossing a line. It’s a leap into an abyss of stupidity.
Illinois is BROKE.
Pensions have destroyed Illinois for generations to come.
And don’t forget– this terrible news comes from Fitch, which is one of the widely known issuer friendly raters in the business –paid 100% by the City of Chicago. They rate anything for a fee and even they can’t put a fresh coat of paint on this rotten credit.
They always try to throw baking soda on a turd. Maybe Jabba will eat it thinking it’s a donut!
Maybe the Chicago pols are banking on another negative rating. The way they think 2 negatives equals a positive. If they got a positive rating on top of a negative rating they get a negative. Either way taxpayers are on the hook. Just saying.