Chicago Bonds = Junk

Started by airboy, May 14, 2015, 01:35:48 PM

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airboy

May 14, 2015, 01:35:48 PM
The City of Chicago (Obama's Home Town!) has had its bonds reduced to "junk" status.

Why?  Huge debt.  Stupidly expensive pensions.  Total union and Democratic control for decades.

But read for yourself:
http://chicago.cbslocal.com/2015/05/13/following-city-chicago-public-schools-credit-rating-junked/

Maybe Chicago will go to Venezuela or Greece for stupid finance lessons.

Martok

#1
May 14, 2015, 03:13:13 PM
Honestly, I'm surprised they weren't already at a junk rating. 

"Like we need an excuse to drink to anything..." - Banzai_Cat
"I like to think of it not as an excuse but more like Pavlovian Response." - Sir Slash

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"If we had lines here that would have crossed all of them. For the 1,077,986th time." - Gusington

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LongBlade

#2
May 14, 2015, 03:21:06 PM
Yup. And their school bonds were dropped to junk today.
All that is gold does not glitter,
Not all those who wander are lost;
The old that is strong does not wither,
Deep roots are not reached by the frost.
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