Moody’s announced today:
Moody’s Investors Service has placed under review for possible downgrade the Aaa ratings of 177 public finance credits, affecting a combined $69 billion of outstanding debt. The credits include 162 local governments in 31 states, 14 housing finance programs and one university. A complete list of affected securities and additional analysis is available at http://www.moodys.com/USRatingActions.
What amazes me is how many politicians, pundits and columnists are are falling for this bullshit. I’m not surprised that ordinary people might do so, having been inflamed by politicians, pundits and columnists that know better.
Because my inductive reasoning tells me that politician, pundits and columnist do know better, and that leads me to deduce that they are lying sons of bitches.