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Municipal Ratings: S&P and Moody's Diverge

The NYT does a very good job of moving the municipal bond ratings story forwards this morning - and making it the newspaper's lead story, no less. One thing it does is answer my question for John Carney and provide the name of a municipal bond investor who defends the current system. But much more importantly, the story opens up a huge gulf between Moody's, on the one hand, and S&P, on the other.

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