[FL biz]

the highest rating- despite downgrade of country to AA+

[Coconut1]

Originally Posted by FL biz

the highest rating- despite downgrade of country to AA+

I wouldn't trust S&P as far as I could throw them.

The bottom line is the federal government is still AAA regardless of what S&P says.

If anyone is dumb enough to go by what those agencies say they deserve to lose their pants. Fool me once, shame on you, fool me twice...

[chopchop0]

Originally Posted by Coconut1

I wouldn't trust S&P as far as I could throw them.

The bottom line is the federal government is still AAA regardless of what S&P says.

If anyone is dumb enough to go by what those agencies say they deserve to lose their pants. Fool me once, shame on you, fool me twice...

only because Europe is worse off than we are. We have too many unfunded liabilities to truly deserve AAA

[vaughanwilliams]

Isn't S&P the same geniuses that gave all the toxic derivatives AAA ratings? "But it was just our opinion" they whined when Congress had them in front of a committee asking them to explain.

[FL biz]

This is very significant considering the economic turmoil in Europe and some states like NJ and Cali

[chopchop0]

Originally Posted by FL biz

This is very significant considering the economic turmoil in Europe and some states like NJ and Cali

agreed. IL can also be added to that list. Much like the profligate countries in the EU like Greece, Spain, Italy and Portugal, I am concerned that the federal government will find a way to bail those states out at the expense of states like FL and TX, which manage their finances properly and still manage to be net contributors of funding to the federal government.

The Tax Foundation - Federal Spending Received Per Dollar of Taxes Paid by State, 2005

[MiamiRob]

Originally Posted by vaughanwilliams

Isn't S&P the same geniuses that gave all the toxic derivatives AAA ratings? "But it was just our opinion" they whined when Congress had them in front of a committee asking them to explain.

Yes S & P is the one who gave a triple AAA rating to CMO's (collateraleralized mortgage obligations) or basically bundled up sub-prime mortgages sold to investors and then the borrowers went belly up.
That being said Florida does pay it bills and it seems the economy is slowly starting to improve.

[FL biz]

Not defending S & P's other ratings, but I do like that FL pays less interest on its debt than most states and countries

Think we're doing something right.