Lonegan. Steve Lonegan

August 1, 2008 - 10:07am

My Letter to Moody's CEO

On behalf of the thousands of taxpayers and investors who are members of Americans for Prosperity-New Jersey, I’m writing to express grave concern over your company’s ratings practices regarding bonds issued by the New Jersey Economic Development Authority under contract with the State of New Jersey. As the courts have made clear, these bonds are not backed by the full faith and credit of the state of New Jersey, and there is no guarantee that future legislatures will appropriate the funds to service the bonds.

Read More >
August 1, 2008 - 10:01am
PRESS RELEASE

Lonegan Protests Moody's Too-High Rating of "Junk" New Jersey Contract Bonds

Americans for Prosperity New Jersey Director Steve Lonegan held a news conference today to protest the irresponsibly high rating of risky New Jersey contract bonds by Moody's Investment Service. Lonegan was joined by a busload of New Jersey taxpayers and a giant inflatable ATM machine, which was designed to illustrate that taxpayers shouldn't be treated like an instant cash machine when politicians run out of money. Watch the press conference video.

Read More >
Syndicate content