Tuesday, May 12, 2009

Long Tail News..... or All the news too boring for ink

Via the WSJ yesterday: Fitch Downgrades FSA; No More Bond Insurers At AAA Level .

Why care? For one thing, the SEA bonds paying for the new arena are variable rate bonds insured by FSA. But, I've gone through that in the past. So if anyone doubts it's a flat world. It seems to me that the SEA's budget in coming years is at least at marginally dependent on the sovereign credit rating of the nation state still known as Belgium.

I told you it was boring.


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