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Old 12-02-2011, 09:32 PM
 
31 posts, read 44,125 times
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the highest rating- despite downgrade of country to AA+
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Old 12-02-2011, 09:39 PM
 
3,849 posts, read 7,895,068 times
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Originally Posted by FL biz View Post
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...
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Old 12-02-2011, 10:48 PM
 
10,575 posts, read 10,862,769 times
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Quote:
Originally Posted by Coconut1 View Post
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
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Old 12-03-2011, 09:05 AM
 
Location: Lincoln County Road or Armageddon
4,229 posts, read 5,699,367 times
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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.
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Old 12-07-2011, 09:15 AM
 
31 posts, read 44,125 times
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Default positive news for FL

This is very significant considering the economic turmoil in Europe and some states like NJ and Cali
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Old 12-07-2011, 12:35 PM
 
10,575 posts, read 10,862,769 times
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Originally Posted by FL biz View Post
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
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Old 12-07-2011, 02:24 PM
 
8,287 posts, read 11,842,644 times
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Quote:
Originally Posted by vaughanwilliams View Post
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.
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Old 12-08-2011, 08:45 AM
 
31 posts, read 44,125 times
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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.
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