The western Chicago suburb of Forest Park became the fifth Illinois community since early last year to suffer a multi-level rating cut from Moody’s Investors Service with pension strains cited a key factor.
Until the bond rating agencies get the cojones to start rating communities and the state’s bond as junk all this is, is noise equivalent to the chirping at birds at sunrise. No one gives it a thought, hence bond holders are content to hold IL bonds and continue the ponzi scheme.
Until the bond rating agencies get the cojones to start rating communities and the state’s bond as junk all this is, is noise equivalent to the chirping at birds at sunrise. No one gives it a thought, hence bond holders are content to hold IL bonds and continue the ponzi scheme.