Moody orders unprecedented triple digit drop in Chicago bond rating | TigerDroppings.com
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Strannix
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Moody orders unprecedented triple digit drop in Chicago bond rating

quote:

Mayor Rahm Emanuel closed the books on 2012 with $33.4 million in unallocated cash on hand — down from $167 million the year before — while adding to the mountain of debt piled on Chicago taxpayers, year-end audits show.

Last week, Moody’s Investors ordered an unprecedented triple-drop in the city’s bond rating, citing Chicago’s “very large and growing” pension liabilities, “significant” debt service payments, “unrelenting public safety demands” and historic reluctance to raise local taxes that has continued under Emanuel.


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This post was edited on 7/30 at 11:46 am



skinny domino
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sebr
Member since Feb 2007
7225 posts

re: Moody orders unprecedented triple digit drop in Chicago bond rating
quote:

Last week, Moody’s Investors ordered an unprecedented triple-drop in the city’s bond rating, citing Chicago’s “very large and growing” pension liabilities, “significant” debt service payments, “unrelenting public safety demands” and historic reluctance to raise local taxes that has continued under Emanuel.
Yep, I was reading about that Friday morning on my flight from Frankfurt to Atlanta in financial section of the Mainz Daily Courier.


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Lsut81
USA Fan
Member since Jun 2005
65732 posts

re: Moody orders unprecedented triple digit drop in Chicago bond rating
Detroit2.0

But don't worry, we're all excited those public teachers averaging 75k a year, even though 80% of their 8th graders can't read at level, got those 15% pay increases


Strannix
LSU Fan
Bossier
Member since Dec 2012
1428 posts

re: Moody orders unprecedented triple digit drop in Chicago bond rating
quote:

Detroit2.0


So it's Republican policies right?


Jbird
Iowa Fan
In Odramaville with EthanL
Member since Oct 2012
18237 posts

re: Moody orders unprecedented triple digit drop in Chicago bond rating
Just another shining example of a Democratic stronghold prospering from decades of their sound policies.


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SlowFlowPro
Stanford Fan
Simple Solutions to Complex Probs
Member since Jan 2004
306838 posts

re: Moody orders unprecedented triple digit drop in Chicago bond rating
quote:

So it's Republican policies right?

aren't the demo changes in chicago nothing like the ones in detroit? i mean, there are suburbs, but the city still has a vast population center that has not been as affected by white flight


deltaland
Ohio State Fan
Member since Mar 2011
26703 posts

re: Moody orders unprecedented triple digit drop in Chicago bond rating
Detroit started it...now the dominoes will fall.


TigerFanatic99
LSU Fan
Granger, IN
Member since Jan 2007
4357 posts

re: Moody orders unprecedented triple digit drop in Chicago bond rating
The sad thing is when all the cockroaches start abandoning Chicago they will likely just head to Gary and push that low level trash closer my way.

I only pray having Notre Dame in between helps insulate us :(


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Asgard Device
The Daedalus
Member since Apr 2011
6584 posts

re: Moody orders unprecedented triple digit drop in Chicago bond rating
Im sure a lot of municipal bond insurers are uneasy these days.

The rates should increase accordingly.


aaronb023
LSU Fan
TeamBunt CEO
Member since Feb 2005
11715 posts

re: Moody orders unprecedented triple digit drop in Chicago bond rating
How long before a Dem says the rate drop is political?


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Erin Go Bragh
Notre Dame Fan
Beyond the Pale
Member since Dec 2007
2578 posts

re: Moody orders unprecedented triple digit drop in Chicago bond rating
quote:

very large and growing” pension liabilities

Expect the healthcare portion to be transferred to obamacare so we can all contribute to Chicago retirees.


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davesdawgs
Georgia Fan
Georgia - Class of '75
Member since Oct 2008
19693 posts

re: Moody orders unprecedented triple digit drop in Chicago bond rating
Forward


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GeauxxxTigers23
USA Fan
TeamBunt General Manager
Member since Apr 2013
26704 posts

re: Moody orders unprecedented triple digit drop in Chicago bond rating
quote:

even though 80% of their 8th graders can't read at level


But according to that dude in the Common Core education thread they can all do Algebra and Calculus by the 8th grade.

So they've got that going for them.


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Taxing Authority
LSU Fan
Houston
Member since Feb 2010
24218 posts

re: Moody orders unprecedented triple digit drop in Chicago bond rating
quote:

Detroit started it...now the dominoes will fall.
This. People are (finally) starting to look at municipal bonds with an eye toward risk. They aren't as safe as many have assumed. When this bubble bursts it will be u-g-l-y. A lot of retirees will get decimated.


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SmackoverHawg
Arkansas Fan
Member since Oct 2011
15543 posts

re: Moody orders unprecedented triple digit drop in Chicago bond rating
quote:

Moody orders unprecedented triple digit drop in Chicago bond rating.

This is what happens under a liberal/progressive government. Next step is to blame someone else.


F$%k Chicago, Detroit etc.

ETA-My ire is directed toward fiscal liberals/progressives not social. I don't care who's holes you poke or what you smoke as long as you work and pay your own damn way.
This post was edited on 7/29 at 10:14 am


davesdawgs
Georgia Fan
Georgia - Class of '75
Member since Oct 2008
19693 posts

re: Moody orders unprecedented triple digit drop in Chicago bond rating
quote:

This is what happens under a liberal/progressive government. Next step is to blame someone else.


This. These morons never make any bad decisions from their perspective and of course the mentality is reinforced by the liberal media.


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Patrick_Bateman
USA Fan
Member since Jan 2012
12907 posts

re: Moody orders unprecedented triple digit drop in Chicago bond rating
Chicago is going the way of Detroit.


vodkacop
LSU Fan
GOM
Member since Nov 2008
2278 posts

re: Moody orders unprecedented triple digit drop in Chicago bond rating
I don't know. I ain't fan of Chicago or rahim but I think he will see the light. I seen more then one news article about the teachers union hating rahim. Plus Obama ain't gonna let chi-town fail.


Lsut81
USA Fan
Member since Jun 2005
65732 posts

re: Moody orders unprecedented triple digit drop in Chicago bond rating
quote:

I seen more then one news article about the teachers union hating rahim.


You mean the greedy fricking teachers hate him after he just gave into their demands last year? Nah, couldn't be....


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CajunAngele
LSU Fan
Member since Oct 2012
15394 posts

re: Moody orders unprecedented triple digit drop in Chicago bond rating

Democrats tax and bankrupt cities and pubs do absolutely nothing.


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