City Council members were expecting something like this from rating agencies, Ward 32 Alderman Scott Waguespack told The Bond Buyer. "[T]he CPS payment and what's been happening not just with the governor but with the General Assembly, putting unfunded mandates on us on a constant basis has contributed" to Chicago's current situation, he said. "In a broader sense ? we're kind of expecting [a downgrade] to come next," he added.
The Bond Buyer keeps on swallowing JB the Hutt and Mayor Cliff Notes’ Kool Aid. Over the past couple of years, I read their report and ask: ‘what planet in Jen Shea on?’. or ‘Is she on the take from Illinois leftist Dems?’
Nothing out in Realville justifies any of The Bond Buyer’s ratings for Illinois and Chicago’s debt being so high except maybe to con chumbolones into buying these imprudently issued securities.
0ld Spartan
8 months ago
Not one tenth of one percent of people who hear about this understand what it means. It is bad news. It is in fact a downgrade going from “positive” to “stable”, just without the letter grade being downgraded right now. And the alderman correctly stated that the City is expecting a downgrade next. And don’t forget, Moody’s is paid by the City, so you don’t think Moody’s is sensitive to the political bad news for their client who is paying them?
A largely unasked question is becoming glaring: Is Illinois doing all it should to use artificial intelligence to make government cost less and work better? So far, the evidence says no.
The Bond Buyer keeps on swallowing JB the Hutt and Mayor Cliff Notes’ Kool Aid. Over the past couple of years, I read their report and ask: ‘what planet in Jen Shea on?’. or ‘Is she on the take from Illinois leftist Dems?’
Nothing out in Realville justifies any of The Bond Buyer’s ratings for Illinois and Chicago’s debt being so high except maybe to con chumbolones into buying these imprudently issued securities.
Not one tenth of one percent of people who hear about this understand what it means. It is bad news. It is in fact a downgrade going from “positive” to “stable”, just without the letter grade being downgraded right now. And the alderman correctly stated that the City is expecting a downgrade next. And don’t forget, Moody’s is paid by the City, so you don’t think Moody’s is sensitive to the political bad news for their client who is paying them?