Comments on: Harrisburg, PA Bond Default Notice http://www.bondview.com/blog/harrisburg-pa-bond-default-notice/ Bondview.com Blog Thu, 02 Feb 2012 21:19:19 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Jim Walker http://www.bondview.com/blog/harrisburg-pa-bond-default-notice/comment-page-1/#comment-122 Jim Walker Mon, 17 May 2010 12:08:58 +0000 http://www.bondview.com/blog/?p=195#comment-122 The best in-depth article on the Harrisburg bond mess yet. Now you really want to see something crazy? Despite the financial mess in Harrisburg, Moody’s and S&P still have AA3 and AAA ratings on the now defaulted bond from Harrisburg, PA! Here is the default notice (http://emma.msrb.org/EP​288087-EP5872-EP628161.p​df). Note that former Moodys’ senior employee Scott McCleskey, head of compliance from until 9/08, outlined his employer’s failures to the US Congress and claimed that once Moody’s issues ratings, it rarely reviews them again – leaving them fallow, sometimes for decades, a concern echoed by other former Moody’s employees. Enough with the complaints. History clearly shows that markets have the intelligence to predict bad news thru market price based rating systems. To see Market Ratings for your muni bonds go to http://www.bondview.​com/marketratings, a free analysis tools for muni bond investors. Good Luck To All Jim Walker, WW.BondView.com The best in-depth article on the Harrisburg bond mess yet.

Now you really want to see something crazy? Despite the financial mess in Harrisburg, Moody’s and S&P still have AA3 and AAA ratings on the now defaulted bond from Harrisburg, PA!

Here is the default notice (http://emma.msrb.org/EP​288087-EP5872-EP628161.p​df).

Note that former Moodys’ senior employee Scott McCleskey, head of compliance from until 9/08, outlined his employer’s failures to the US Congress and claimed that once Moody’s issues ratings, it rarely reviews them again – leaving them fallow, sometimes for decades, a concern echoed by other former Moody’s employees.

Enough with the complaints. History clearly shows that markets have the intelligence to predict bad news thru market price based rating systems. To see Market Ratings for your muni bonds go to http://www.bondview.​com/marketratings, a free analysis tools for muni bond investors.

Good Luck To All

Jim Walker,
WW.BondView.com

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