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List: How S.F. fooled credit-rating agencies 

Wednesday, Sep 22 2010
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The major credit agencies recently came to San Francisco to evaluate it. What evidence did the city put forward that its credit rating should be raised?

• Gavin Newsom is going away in the near future

• Our houses are still hideously overvalued

• Most of our economy is based on the tech and financial sectors — two areas that never go wrong

• Someone finally fixed the leaky faucet in the assessor's office

• Local gangs have responded to the collapsing economy by becoming more productive

• Our massive pension liabilities won't come due until after 2012, when the world ends

• We're not Detroit

• Our investment portfolio is being managed by this genius named Bernie Madoff. Come to think of it, we haven't heard from him for a while

• Willie Brown knows a guy

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Benjamin Wachs

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