Standard & Poor's Downgrades California from "Lower than Louisiana" to "Maybe a little Better than Greece"

It was only eleven months ago that we posted "Laughingstock: Fitch to California-"F2" and S&P Downgrades to "Lower than Louisiana".And yes I know that comping Greece's BBB+ to Cali's A- is an olives to oranges comparison.Sovereign vs. muni.[the Greek paper being sovereign might be safer -ed.]From MarketWatch:California downgraded by S&P, weighing on state's bondsStandard & Poor's said Wednesday