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(Marketwatch)   S&P drops Puerto Rico credit rating from Pablo Casals to Tony Orlando   (marketwatch.com) divider line 16
    More: Fail, Pablo Casals, Puerto Rico, credit rating, bond fund, local taxes, Moody's Investors Service, rating agency  
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412 clicks; posted to Business » on 05 Feb 2014 at 9:41 AM (42 weeks ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



16 Comments   (+0 »)
   
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2014-02-05 08:22:56 AM  
It's the dawn of a new era.
 
2014-02-05 09:30:08 AM  
I do love this headline meme
 
2014-02-05 09:51:12 AM  
Did this get mentioned in the State of the Union? Huh? Outrageous.
 
2014-02-05 09:53:30 AM  
Now wait for the other chancleta to drop.
 
2014-02-05 10:06:49 AM  
Wow, a Pablo Casals reference on Fark...I know his grandson.
 
2014-02-05 10:07:37 AM  
Knocked three times?
 
2014-02-05 10:11:12 AM  

Langston: I do love this headline meme


I like when a headline brigs a little bit of culture to the group. I had a greenlit reference to  René Magritte a few weeks ago. I was a little bit proud of that.
 
2014-02-05 10:57:08 AM  
Puerto Pobrecito.
 
2014-02-05 11:46:04 AM  
I'm going to tie a yellow ribbon for my 401(k)
 
2014-02-05 12:34:50 PM  

whither_apophis: I'm going to tie a yellow ribbon for my 401(k)


No offense but if your 401(k) is investing in tax free muni's you may need a new advisor.
 
2014-02-05 01:45:25 PM  

sdd2000: whither_apophis: I'm going to tie a yellow ribbon for my 401(k)

No offense but if your 401(k) is investing in tax free muni's you may need a new advisor.


You are just a fountain of knowledge on tax exempt securities aren't you? Do you work in that space?

/you are correct of course.
 
2014-02-05 01:51:41 PM  
Don't work in it, just an investor in it. Also going against Meredith Whitney's recommendations made me a good bit of money, because I looked at the muni market and figured that even if you had a ten fold increase in the number of defaults you would still have something like a 99.8% or 99.9% non default rate.

I am getting out of muni bond mutual funds (or at least not buying any more of them) and concentrating on single issues.
 
2014-02-05 03:10:59 PM  
But how well is Agricola and Catan holding up?
 
2014-02-05 07:56:41 PM  
So, what's the deal with Puerto Rico?  Is there a PR expert here who can explain what's going on, or refer to a handy article?

I wonder if the East Coast gets more PR news than we do out here on the West Coast.  I *forget* about Puerto Rico.  If they're having financial difficulties, that news isn't penetrating out here.

Gracias!
 
2014-02-06 01:59:09 AM  
I'm disappointed, Fark.

Progress Island, USA.

/Gambling!
 
2014-02-06 09:23:07 AM  
Soon to be downgraded to Freddie Prinze.
 
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