Wednesday, June 24, 2009

City of Los Angeles Forgoes Moody's Credit Rating Because They Would LOSE AAA Rating! (Ooops, Their bad!)

Click here for announcement from City of Los Angeles that they would LOSE current AAA Moody's rating, if rated, so they vote to "forgo" a Moody's rating.

How funny the representative from the City tried to blame it on those mean, unreasonable Moody rating people for what would be the loss of the AAA rating, not anything to do with losing $7 Billion in pension money and talking about "bankruptcy protection" on agenda items.

But besides her spinning rhetoric, here's what matters to a Zuma Dogg LA Daily Blog reader: CM Parks said, "...ask you that we NOT seek a ratings endorsement as we have in the past."

City of Los Angeles Executive said, "Unless we change what we do, we would no longer be AAA rated by Moody's." She then asked to "forgo" a Moody's rating. (If I knew my grades were going to drop on my report card, I would ask to forgo the report card, too.)

VIDEO LINK: Click here for the (Price is Right LOSER Sounder): "Whomp, whomp, whomp, whomp....(deflated) Whoooooomp, bad news from the city on it's sinking credit rating from Moody's.

And watch CM Parks at the end have to let Councilmembers know this isn't just the usual report they can sleep through, but contains an action item, so please pay attention school kids." THANKS FOR BEING THE TEACHER IN CHARGE UP THERE PARKS!

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