Quote:
Originally Posted by cal_guy
Alberta bond yields are actually 25 to 50 basis points lower than last year for debt 5 year and under bonds. Just to show you how useless ratings agencies are for government debt, Alberta bond yields are identical to Ontario and Quebec both of which have and S&P A+ rating.
|
Thanks!
Although I dont think we need a lesson in the importance of S&P's ratings system. Lehman Brothers and AIG were AAA right up until the day they went bankrupt.
Coincidentally another Government picked up the tab for that one.
Its strange, it appears as though its surprisingly easy to spend other people's money.