Free Republic
Browse · Search
News/Activism
Topics · Post Article

To: ml/nj

Well, we certainly are headed in that direction.

But that’s bad news. Bankruptcy means repudiating debts. Even coming CLOSE to that means lowering the bond ratings whcih translates into lower interest rates on state bonds and higher taxes.


16 posted on 07/13/2010 8:58:54 AM PDT by ZULU
[ Post Reply | Private Reply | To 15 | View Replies ]


To: ZULU
lowering the bond ratings

Actually, I think it could lead to a strengthened bond ratings. I know =I= would have greater confidence in a State that would clean house compared with one that thinks it is obligated to pay money to people who do nothing and were overpaid whenever they were doing whatever job they held.

Bankruptcy means repudiating debts.

Or "restructuring" them.

ML/NJ

17 posted on 07/13/2010 9:16:21 AM PDT by ml/nj
[ Post Reply | Private Reply | To 16 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson