Posted 1/30/2008 23:36 (#297293 - in reply to #297271) Subject: Re: A real example of the effects of the monoline downgrade
Lapel, In
Don't be surprized to see some towns and cities default if the whole country is like it is here locally. These irresponsible local politicians in this area have floated bonds for the most frivolous of projects as one can imagine. The real problem is the projects were based on a continued high rate of growth in population and the high end homes market. Can you say C rated ?lol.crazy
A real example of the effects of the monoline downgrade
