He should not have spoken up:
"R.I. speaker meets with rating agencies on 38 Studios" by Erika Niedowski | Associated Press May 22, 2014
PROVIDENCE — Rhode Island’s House speaker said he had a ‘‘very fruitful’’ meeting Wednesday with two Wall Street ratings agencies as lawmakers weighed the harm of possibly defaulting on bonds that financed the state-backed loan to 38 Studios.
Democratic Speaker Nicholas Mattiello declined to say what his position is after the meetings in New York City with Moody’s and Standard & Poor’s. But he said he is leaning in one direction.
I can imagine the rea$ons he wants to $tay $ilent.
He called a closed caucus with fellow Democrats for Thursday afternoon to discuss the issue.
Why must DEALINGS with WALL STREET remain SECRET?
Some lawmakers say taxpayers should not be on the hook for the failed investment, which was financed with so-called moral obligation’ bonds, for which there is no binding repayment requirement.
But they are going to PAY BILLIONS-PER-QUARTER in PROFITS Wall Street anyway!
If there was ever any doubt government served those f***ers, this should di$pel it!
‘‘It was a very fruitful fact-finding effort,’’ Mattiello said of his trip with Majority Leader John DeSimone. ‘‘I’m comfortable that I understand the issue at this point.”
Yeah, the Wall Street ratings agencies "explained it" to him!
Mattiello would not say specifically what the agencies told them, but he said they heard similar messages from both and noted that ‘‘credit rating agencies tend to maintain consistency.’’
Moody’s and Standard & Poor’s have warned of downgrades, possibly by multiple notches, if the state defaults. That would make borrowing more expensive.
Those are the $AME GUYS who rated all the MORTGAGE-BACKED SECURITIES TRIPLE AAA when they were $HIT!
They are PAID by WALL STREET FIRMS for God's sake!
A state-commissioned analysis by SJ Advisors predicted Rhode Island’s bond rating would sink to junk status if the state walked away from the debt.
Then junk the f***ing $y$tem that $ays that! Start printing the Rhode Island ruble!
Some have criticized that conclusion as unlikely or alarmist.
Oh, I will bet there was alarm when some fat-a$$ed fat cat $itting on his $ofa was told his free loot might not be coming.
Governor Lincoln Chafee insists the state should pay, saying that default would harm Rhode Island’s economic recovery and jeopardize the lawsuit over 38 Studios’ collapse.
Linc has always belonged to that cla$$.
The company, founded in Massachusetts by former Red Sox pitcher Curt Schilling, went bankrupt in 2012 after it got a $75 million state-guaranteed loan in Rhode Island.
I feel bad for Curt now. He did everything you are supposed to; it is a $hame he blew his fortune on an entrepreneurial venture, but hounding him over it is worse.
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Related: 38 Studios Ruined Rhode Island's Reputation
Must be the Schilling Cur$e.
Also see: Mattiello takes a sudden path to power as R.I. House speaker
I'm beginning to wonder what the real rea$on was for the last guy's removal now.
Let's face it, with all the data being collected the stuff is only being used when it is politically advantageou$ for certain people.
