No. of Recommendations: 1
Of course, we here in Michigan, are used to that sort of corruption. Governors routinely appoint "emergency managers" to usurp the power of local elected officials, and do whatever it takes to prevent a city, or school system, going bankrupt, so the money interests who own the bonds, get paid in full.
One of the biggest laffs I ever got watching bubblevision was when word got out that former Sec Treasury, Robert Rubin had called the credit rating companies to pressure them to not cut Enron's ratings. Mark Haines said "gee, I didn't realize credit ratings were negotiable"
Steve
