[mike_9958]

So we need to thank Gray for screwing up the credit rating for CA too

So we got a state with big debt and a low credit rating.... great. Now you depressed me.... and I don't even live close to CA. thanks

[FirstPrinciple]

Sorry, didn't mean to do that. Look at the bright side. If you buy this bond (I am not sure what the requirement is to hold these bonds), you will make a good return that is probably better than the market once you account for the risk. Even if there is any chance that CA will default, I am sure the federal govt will bail it out. If I had money, I would love to invest in it. Now, it doesn't look like a bad idea after all. It is about time that ordinary folks start to profit from socialism.