[Mork] For SOME reason, Moody's and S&P will downgrade city debt when there's too much. But NEVER do that for federal government bonds.
[Heller] There are many reasons that Federal bonds (Treasuries) aren't rated. One is that the Feds can print money (since Nixon extinguished the gold standard.) Another reason is that U. S. Treasury bonds are purchased and held predominantly by foreigners: China, Iran, Iraq, who knows. Don't forget that the United States is the biggest DEBTOR in the world. Those foreign investors could dump bonds (and/or dollars) at any time, which would drive interest rates sky high. What do you think that would do to our economy? [Mork] My individual opinion is that some of the RECIPIENTS of those awards were crooks, who happened to see easy pickings and couldn't resist. [Heller] Good point: I have spent a lot of time trying to decide who to direct my anger at. The developers and businesses who picked our pockets, or the local government who let them do it? I came down on the free market side of the question. That is to say: Anyone can ask for anything they want, but it's our government's job to say NO. We elect and pay them to protect our rights and be good stewards of public money. [Mork] But would a Republican city council have been better for Minneapolis taxpayers, with their world famous hostility to business? [Heller] Probably not. But it's hard to imagine getting a bigger score than businesses and developers got from the Democrats. I think we should just call them Republicrats and keep a closer eye on them. Vicky Heller North Oaks REMINDERS: 1. Think a member has violated the rules? Email the list manager at [EMAIL PROTECTED] before continuing it on the list. 2. Don't feed the troll! Ignore obvious flame-bait. ________________________________ Minneapolis Issues Forum - A City-focused Civic Discussion - Mn E-Democracy Post messages to: mailto:[EMAIL PROTECTED] Subscribe, Un-subscribe, etc. at: http://e-democracy.org/mpls
