Junk bonds

Rot Of Empire: Moody’s Downgrades Chicago To Junk Bond Status – Dave Kanzler

I thought junk bonds were ‘high risk – high return’ whereas I’d have thought Chicago was more ‘high risk – no return.   Not so much junk bonds, just junk. Reader comment from  “Mike” It’s doubtful that Warren Buffet’s Moody’s Investor Services will face the same wrath from Obama that Obama inflicted on S&P after S&P downgraded the U.S. Government debt rating …