Moody’s Investor’s Service (PDF) cut the state’s credit status a notch, from a top-rated AAA to AA-1 in 2003.In itself, the Fitch move to cut the state’s bond rating won’t significantly boost interest rates. But that cut and a related Fitch reduction could boost interest rates facing schools and other local governments.Also, the losses of top ratings could carry a cost, virtually impossible to    .. more …

A headline for the sake of a headline.Should we not assume his expenses are within agreed policy, are properly authorised, available for internal audit inspection and possibly a lot less than they could have been because our treasury minister has exercised restraint ?? Perhaps a more meaningful article is a breakdown of how the total was achieved. Report abuse No surprise there then….get    .. more …

As we approach August 2, the deadline for Congress to lift the debt ceiling before the nation begins to default on its credit, there’s still considerable public confusion about what it all means.While nearly every economic expert declares that default would be a disaster, and a bipartisan consensus of politicians not aligned with the Tea Party agree, the country is still sharply divided. The most    .. more …