“But this will effect all who goes for a Bond offering and need a rating and now the ratings agencies do not want the liability.”
Yep, yesterday my electrical contract company lost three future projects because they “lost funding!”
Basically, if the planners do not have 100% of the money for the project, they either dropped the project or put it on hold because they won’t be able to guarantee funding without a rated bond! DUH!
This is going to hurt almost every industries most likely immediately! But here is the kicker! Watch the MSM and Dems go after the American public with the claims that the “haves” are “hoarding their money and causing the economy to slow down!” Anyone want to bet? They have already made these statements, but I bet they get bigger and louder!
I can see it now: “Rich Republicans are hoarding more money to slow economy in an effort to help their election chances in November.”
http://www.youtube.com/watch?v=u6H63CD7uQA
This is a 10 minute cartoon from 1948 talking about America’s Freedoms and to be wary of the various “isms” out there. Of course they are about 15 years to late (FDR), but it is a great cartoon and we see most of it happening again today under Obama.
Great section on the “Rich Capitalist” which describes this whole bond thing very well.
Construction and related industries are going to grind to a halt - if they weren’t dead in their tracks already.
This madness must stop.
It wouls have to be “Rich Democrats”...they have most of the money in America!