Posted by on November 6, 2018 5:53 am
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Categories: Column 2

The spendthrift govenment agencies and political subdivisions in Montgomery County tend to believe their own press about how “fiscally conservative ” they are with your tax dollars. As part of that delusion once again County Judge Doyal is waving Montgomery County’s bond rating as confirmation.

There is this report from County Judge Craig Doyal’s office that the AA+ rating with Standard & Poors and its Aaa rating with Moody’s had saved you money in the latest bond sale and refunding. Of course they first had to spend hundreds of millions and encumber your real property with the debt before they could turn around and save you money, but never mind that.

So just how valuable and er.. reliable is that Moody’s evaluation of our County fiancial postion?   Glad you asked.

We read in this report that Standards & Poors has been fined $1.5 Billion and Moody’s has just been fined  $1.1 billion to settle claims it inflated ratings in lead-up to financial crisis.  Oh well.

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