Hey Look, Another Bond Cut
Something similar to all of these. We just can't put our finger on it:
- Moody's Investors Service has cut its general obligation rating for Cook County to A1 from Aa3.
In issuing the downgrade, Moody's cited growing pension liabilities.
The credit ratings agency also kept a negative outlook on the lower rating due to "formidable" challenges facing the county in getting pension reform through the Illinois legislature.
Moody's said the county's pension contributions fell short of actuarially required contributions. While Cook County reported an unfunded pension liability of $5.6 billion at the end of 2012, Moody's said more conservative assumptions would raise that liability to $12.7 billion.
It also noted that the county, the largest in Illinois and the second largest in the United States, shares about half of its tax base with Chicago, "resulting in a significant overlapping long-term liability burden."
Who's else is pulling these strings?
Labels: money questions
posted by SCC at 12:03 AM
22 Comments:
And that is why they want to disarm us.
Any questions ?
Ray Hamilton the terrorist expert Now That's a Good Expense
Perhaps he'll be back at CPD soon
With our own states and cities going broke, why are we giving out all the foreign aid?
Meh, not a problem. Periwinkle (sic) will just invent some NEW TAXES... Whoopee!
::: a 'minuscule' $2.00 per week Resident Tax. With a pop of 5.217 million that's $542,265,000 Dollars. (who can't afford a 'measly' $104 a year.)
::: a $5.00 per week Head Tax for all Co and Corp employees in the county. With 2.68 million 'in the work force' that's $696,000,000 Dollars. (what Co / Corp can't afford a lousy $260 a year per employee (the thieving capitalist bastards! /s).)
Woo-hoo! $1,239,065,000 Dollars ($1.23 Billion) in NEW MONEY!
But why stop, this is fun..there's even MORE!
::: a $50.00 a year Automobile Tax.
::: a $20.00 a year Motorcycle Tax.
::: a $150.00 a year Truck Tax.
Yippee!!... Gazillions!! Let's go spend it!
Yuuup, there was an article not too long ago stating how the powers that be (politicians) pushed for the Shitcago down grade. Looks like the powers that be have now pushed for a Crook County down grade. Just to make the pensions and people paying into the pensions look like the bad guys. They are doing anything and everything to try and stick it to the working stiffs who have worked their whole lives and payed into the pensions. And Moody's is playing right along. ASSHOLES!!!
Shit just give me my contribution plus the city's 2 to 1 ratio. That would be about $300K if my math is correct. I'd gladly cash out.
Any doubt Mayor Raccoon Eyes had his minions on Wall Street lower the bond ratings.
Civic Federation. Selling the bonds short on the way down. Once they wipe out our pensions, they with go long
we are not detroit yet
Berkshire Hathaway, owns a large percentage of Moody's. Berkshire Hathaway is owned by Rahm's good friend Warren Buffet. Capone said it best; "Ain't nothing legit"
Transfer the flag boys. This ship is going down.
Has it occurred to anybody that the people who say the pensions are broke
are maybe the very people who will control the money if they switch us to 401k's? My Grandfather always said anytime someone is preaching doom and gloom find out what they are selling
They have no clue on how badly they are doing.
Now, Kees me you fool!!!!
401k for anyone with less then 10 yrs those that are vested work longer pay more get less.the unions will fight it out in court and guess who sits on the ill supreme court?
Rahm and Prickwrinkle are playing the same toon. Both are backdooring us retirees and workers into making the public think that ALL the city's and county's woes are due to the pension. The state legislature is dragging their feet until the citizenry cries foul and blames all us current and retired govt workers for the whole friggin mess.
Anonymous Anonymous said...
Ray Hamilton the terrorist expert Now That's a Good Expense
Perhaps he'll be back at CPD soon
The terrorists can keep him!
Most of the people who live in cook county work for a government agency. There is no private enterprise anymore. Taxes, crime, etc.
Anonymous Anonymous said...
Ray Hamilton the terrorist expert Now That's a Good Expense
Perhaps he'll be back at CPD soon
The terrorists can keep him!
Yes! No Expert! Rahms former lackey body guard Couldn't even get an Officers Commission in the USMC
Expert Right OJT Another Clouted Fraud
So, I've been in NashVegas, and read about the 8.5 million dollar verdict.
And my Dad, and my husband, and me, ask, collectively:
Can't you just refuse to go into these WAR zones? What I'm proposing is that these areas are combat worthy, and you guys are not prepared. Why is your ass on the line? This is war. Albeit in a civil sense...
Anyhoo...before anybody gets all crazy on me...I'm just thinking out loud;;;
All about creating another "crisis"
Anonymous said...
Berkshire Hathaway, owns a large percentage of Moody's. Berkshire Hathaway is owned by Rahm's good friend Warren Buffet. Capone said it best; "Ain't nothing legit"
8/17/2013 09:50:00 AM
Also,"one man with a briefcase can steal more money than 100 men with machine guns."
Chicago= Socialist Dictatorship.
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