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There's been a string of warnings regarding forthcoming municipal bankruptcies from folks such as Peter Schiff & Meredith Whitney to name a couple, but the Democrats in Suckramento don't give a you-know-what.
I guess even though the whole state is ruled by Moonbat "liberals" this is Bushes and the Tea Party congress's fault right???
The klaxon horn went off Friday evening for California municipal bondholders when Moody’s credit rating service issued a report stating that the plummeting financial condition of many California counties, cities, school districts and other government agencies will soon result in large numbers of municipal bankruptcy filings. Concerned about their own potential liability for providing high ratings that encouraged conservative elderly Americans to invest in risky bonds; Moody’s announced they will undertake a wide-ranging review of municipal finances because of the growing insolvencies.
Not to worry, after President Soetoro gets re elected, he will issue another Executive Order instructing Bernanke to print up 300 Billion dollars exclusively to bail out California (on your grandkids tab) until another President comes in. Easy fix there...
Not to worry, after President Soetoro gets re elected, he will issue another Executive Order instructing Bernanke to print up 300 Billion dollars exclusively to bail out California (on your grandkids tab) until another President comes in. Easy fix there...
I am sure that is exactly what Obama's plan is.
Obama and the libs are creating policy that will make the nation look like a third world slum. California and Detroit are shining examples of all that liberalism can do.
I guess even though the whole state is ruled by Moonbat "liberals" this is Bushes and the Tea Party congress's fault right???
The klaxon horn went off Friday evening for California municipal bondholders when Moody’s credit rating service issued a report stating that the plummeting financial condition of many California counties, cities, school districts and other government agencies will soon result in large numbers of municipal bankruptcy filings. Concerned about their own potential liability for providing high ratings that encouraged conservative elderly Americans to invest in risky bonds; Moody’s announced they will undertake a wide-ranging review of municipal finances because of the growing insolvencies.
And what happens if the taxpayers say no to all those new taxes?
Then will there have to be cuts in spending made or do the liberals still plan to go on spending like there is no end of the money supplies?
If somehow they realize spending cuts have to be made, what happens when the liberal voters find a little fewer government handouts coming their way?
It's going to be interesting to see all of those Liberals having to live like all of those they've been pandering to and patronizing all of these years .. interesting indeed
Municipal bk's are very different than other bks. Most all of this is over pension funds. Going thru a Municipal BK doesn't mean you are broke.
People need to delve into the CAFRs of these areas and get more than a headline. CA CAFR: Parks 'found' $54M, $2.3 billion more ... - Examiner.com
Earlier this year Jon Corzine had a fundraiser dinner at his New York City apartment for Barack Obama where it was charged at $35,000 a plate. Okay? He bundled high six figures for Obama in one evening! He is a crony of the regime. This is Marxist Communism. There is no rule of law. And these people, these poor MF customers are just sitting out here helpless to do anything because there is no law enforcement because this is no longer a nation of laws. The rule of law no longer exists. There is no longer justice in this nation. And no nation, no culture, no society can survive if there isn’t a foundation of justice. That is why we are teetering on the precipice of collapse and I foresee civil war coming within the next several years.
Not to worry, after President Soetoro gets re elected, he will issue another Executive Order instructing Bernanke to print up 300 Billion dollars exclusively to bail out California (on your grandkids tab) until another President comes in. Easy fix there...
Is that enough for Illannoy too??? Their watching closely to see what they can get away with....
Can we get away with it That's always a key consideration behind the Democrat's plans...
Buncha thieving psycho's, they take pride in their incompetence and they love being called idiots and watching their useful idiots spew their bull**** like good little victims...
Unfortunately it's a meticulously calculated subversive communist plan to destroy America...
Obama and the libs are creating policy that will make the nation look like a third world slum. California and Detroit are shining examples of all that liberalism can do.
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That's always a key consideration behind the Democrat's plans...
