Municipal Bonds

Mooooooody's Tries to Prove its Not a Joke

This is classic.  After years spent gorging itself on fees from slapping paid-for “quadruple A” ratings on junk bond garbage, Moody’s (MCO) has decided now, in the Spring of 2009, to start downgrading stuff. Not only have the horses already bolted the barn, the barn itself has burned down and is a pile of smoldering ashes. Moody’s put…