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(USA Today)   New Jersey sues Standard & Poor's for fraud after lowering the state's bond rating from AA to Bail   (usatoday.com) divider line 8
    More: Followup, bond credit rating, Standard & Poor, New Jersey, New Jersey sues, Mcgraw-Hill Cos. Inc., structured finance  
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1036 clicks; posted to Business » on 11 Oct 2013 at 10:27 AM (44 weeks ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2013-10-11 10:43:35 AM
I'm leaving this state in 3 weeks.  There is a reason.  I lived here most of my life, and I love the way it used to be, but it's become a pit.  A very, very expensive pit.

I am not surprised they downgraded, no one can afford to live/work here.  My boss, who is pretty wealthy and lives in a relatively modest house in a good zip code, pays $21,000/yr in property taxes alone (it's not embellishment - I've seen the bill).  And NJ still borrows money out the wazoo.
 
2013-10-11 10:44:25 AM
Why does anyone still give a fark about anything S&P says after they admitted that their statements are just "puffery"?
 
2013-10-11 10:59:07 AM

Ivo Shandor: Why does anyone still give a fark about anything S&P says after they admitted that their statements are just "puffery"?


What farking assholes.
 
2013-10-11 11:19:15 AM

Kali-Ma: I'm leaving this state in 3 weeks.  There is a reason.  I lived here most of my life, and I love the way it used to be, but it's become a pit.  A very, very expensive pit.

I am not surprised they downgraded, no one can afford to live/work here.  My boss, who is pretty wealthy and lives in a relatively modest house in a good zip code, pays $21,000/yr in property taxes alone (it's not embellishment - I've seen the bill).  And NJ still borrows money out the wazoo.


And Pennsylvania is RIGHT HERE! I can't imagine why anybody would live in NJ. If it is so important to work in NYC, take the Bieber bus from Allentown and get some work done on the bus.
 
2013-10-11 12:05:55 PM

YixilTesiphon: Kali-Ma: I'm leaving this state in 3 weeks.  There is a reason.  I lived here most of my life, and I love the way it used to be, but it's become a pit.  A very, very expensive pit.

I am not surprised they downgraded, no one can afford to live/work here.  My boss, who is pretty wealthy and lives in a relatively modest house in a good zip code, pays $21,000/yr in property taxes alone (it's not embellishment - I've seen the bill).  And NJ still borrows money out the wazoo.

And Pennsylvania is RIGHT HERE! I can't imagine why anybody would live in NJ. If it is so important to work in NYC, take the Bieber bus from Allentown and get some work done on the bus.


I thought they closed all those factories down, and then the union people crawled away.

// I hear it's getting very hard to staaaaaa-ay-ay-ay...ay-ay-ay...ay-ay-ay...
 
2013-10-11 12:21:01 PM

Dr Dreidel: YixilTesiphon: Kali-Ma: I'm leaving this state in 3 weeks.  There is a reason.  I lived here most of my life, and I love the way it used to be, but it's become a pit.  A very, very expensive pit.

I am not surprised they downgraded, no one can afford to live/work here.  My boss, who is pretty wealthy and lives in a relatively modest house in a good zip code, pays $21,000/yr in property taxes alone (it's not embellishment - I've seen the bill).  And NJ still borrows money out the wazoo.

And Pennsylvania is RIGHT HERE! I can't imagine why anybody would live in NJ. If it is so important to work in NYC, take the Bieber bus from Allentown and get some work done on the bus.

I thought they closed all those factories down, and then the union people crawled away.

// I hear it's getting very hard to staaaaaa-ay-ay-ay...ay-ay-ay...ay-ay-ay...


Well, there's a reason it's nice and cheap to commute to a 4/10 in NYC...
 
2013-10-11 12:35:31 PM
Sorry, didn't people learn this shiat about Enron? These companies get paid by the people they rate. Follow the farking money, assholes.
 
2013-10-11 01:08:32 PM

Ivo Shandor: Why does anyone still give a fark about anything S&P says after they admitted that their statements are just "puffery"?


Because it's written into the law that some kinds of bonds have to be rated by certain specific companies, and without a favorable rating the interest rates go from reasonable to high to onerous to impossible.
 
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