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Gee, weren't they the ones who gave tripe-A ratings to all those subprime mortgage packages?????
That was because they where getting paid by the thieves, so it stands the reason why they got great reviews, praise, god like worship and plenty of cash. Personally I'd lock up the greedy bums.
Exactly what I said in another thread. S&P showed how 'wrong' they were when the crapola hit the fan in 2007/2008.
It is, after all, a private corporation (under McGraw-Hill). I suspect that the 'downgrade' may be more politically motivated than based on true analysis. I mean, for all we know, some of the 'top dogs' at S&P are 'tea partiers' or at least 'conservative', eager to try to jeopardize Mr. Obama's bid for re-election.
Anyway, I predict that this downgrade will be raised as an issue by the Republican candidates next year.
Well, there are some that think the credit agencies have stepped over the line by inserting themselves in the political and legislative process. I happen to agree.
How did it come to this—that a trio of private-sector companies could wield such enormous influence? More specifically, a trio that has proven chronically behind the curve, analytically compromised, and complicit in the financial crisis of 2008–09 as well as the more recent euro-zone debt dilemmas? Somehow, these inept groups again find themselves destabilizing the global system in the name of preserving it.
Oh, I forgot. I also imagine that Democratic candidates, including Mr. Obama, will bring up the downgrade during the election season (blaming Republicans). It is a good topic that can be used against the 'other party'.
Oh, I forgot. I also imagine that Democratic candidates, including Mr. Obama, will bring up the downgrade during the election season (blaming Republicans). It is a good topic that can be used against the 'other party'.
That won't work either. We all know obama's recovery never really was and S&P downgraded because of the debt (i.e., SPENDING).
Real simple to explain this kind of stuff - since obama's been in office, he's increased the debt by 60%.
I'm more concerned by the criminal spending policies of our federal government, than who said what about our credit rating.
America, the largest debtor nation in the history of the world.
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