Bacon's Rebellion

Democracy Thrives in Sunlight

Author: Norm Leahy

  • Moody’s puts Virginia AAA rating under review

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    Norm Leahy
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    As I noted several weeks ago, if the federal government’s AAA rating is cut owing to skittishness over the debt ceiling, Virginia’s AAA rating could suffer as well. And now, Moody’s has made the possibility of such a downgrade quite clear: — Moody’s Investors Service has placed on review for possible downgrade the Aaa ratings…

  • Egan-Jones downgrades U.S. debt

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    Norm Leahy
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    by Norm Leahy A less well-known ratings agency, Egan-Jones, has downgraded the federal government’s debt from AAA to AA+. The report explaining why can be found here. If you’re not a client, Zero Hedge has the press release, complete with charts, which gives you a solid understanding of the report’s contents: We are taking a…

  • S&P goes a step further in downgrade warning

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    Norm Leahy
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    by Norm Leahy Standard & Poors takes Moody’s threat to downgrade U.S. debt if there’s no deal and goes a step further, saying, in effect, that while it believes the political class will come to some sort of deal, not all deals are created equal: Congress and the Administration might also settle for a smaller…

  • Explaining the Greek Economy

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    Norm Leahy
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    Because the economic news is so very bleak, a little satire is called for, courtesy of Clarke & Dawe. Maybe if we pass a slightly bigger hat, we would scrounge up enough cash to get Portugal, Ireland and a slice of Italy, too.