Saturday, August 20, 2011

Cry Baby Municipalities

I am so thoroughly enjoying the decline.

S&P finally decides to grow a spine, call them as they see them, and downgrades several municipalities and counties. And what does S&P run into????
But what is better than a perfectly grilled steak served to you by Jennifer Aniston is the reaction of these municipalities. They shoot the messenger and "fire" S&P.

So to all of you in LA, San Mateo and all the other municipalities that are nearly insolvent, permit me one simple question;

"How does "firing" S&P help fully fund your pensions?"

That decline is coming whether you idiots like it or not. And your arrogance and ignorance just makes it Hershey's syrup on the ice cream.


Anonymous said...

Great idea, I think I will fire Experian because they gave me a low credit score.
Next time I go in for a loan, I will be sure to tell the bank that I fired Experian and they should count that score in determining my ability to pay...

Dang, why didn't I think of that earlier?? These Municipalities are certain the incubation of high intellect and brilliant ideas...

Scott said...

It's like firing your auditors cause they won't give you an unqualified opinion. It doesn't make anyone believe your books are right. It means they are so bad you couldn't even get them close to right.

CBMTTek said...

I see this as the equivalent of slashing your professor's tires because you failed an exam.

Convinces me that investing in liberal states is a bad idea.

Ryan Fuller said...

If you find out you have cancer, you can just fire your doctor.

That'll show 'em.

she said: said...

The enterprising sections of California don't care what happens to these pensions. The sooner they are wiped out the better.

They were somewhat fraudulently given out. The state had to be sued to get the salary and pension information released. And then it took over 6 years to get it.

I'd like to think if we'd known earlier how much they were sucking us dry - we might have put a stop to it earlier. But, I live in California - so that is probably wishful thinking.