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Puzzling to understand why these agencies failed to do this during 8 horrific Bush years that had this country on a road to a sure Depression. With Republicans allowed to set the debate because Dems abandoned Obama for the Midterms, this move appears political. Time to downgrade the importance of these agencies? I think so.
Wow, the left is up their old tricks, blame the messenger.
The rating agencies have been complicit in the fraud that was the housing bubble that is a good enough reason to downgrade them. Not for saying we are in bad shape but for not doing so in a timely way.
The rating agencies have been complicit in the fraud that was the housing bubble that is a good enough reason to downgrade them. Not for saying we are in bad shape but for not doing so in a timely way.
The credit agencies dont issue bonds and rely upon credit. How do you downgrade credit ratings for someone not using it?
They got burned with "AAA" sub prime mortgage bonds so they are trying to be proactive. I do feel our finances are really bad but the raters really are clueless.
Whoa! A levelheaded post!!!
Agree with both points. They have no credibility, but we still need to get our act together.
Puzzling to understand why these agencies failed to do this during 8 horrific Bush years that had this country on a road to a sure Depression. With Republicans allowed to set the debate because Dems abandoned Obama for the Midterms, this move appears political. Time to downgrade the importance of these agencies? I think so.
I love how the day S&P downgraded T-Bonds was the day when 2 year notes hit record low yields. They are either trying to use ratings to influence policy, or they are disconnected from reality on this one.
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