I have to say I have been thoroughly enjoying the pouring down on S&P- the world's policeman of debt issued who cannot police itself. Can you imagine what arrogance? Who even made these rating guys lord of manors. My best read are or quotes are these:
S&P commenting on US credit is 'like the Catholic church lecturing scout leaders on proper behavior towards boys"
"These guys personify amateur hour."
"They've shown a stunning lack of knowledge about basic U.S. fiscal budget math," said Treasury Secretary Tim Geithner.
he decision "smacked of an institution starting with a conclusion and shaping any arguments to fit it" declared Gene Sperling, a top White House economics adviser
President Obama appears to agree. "No matter what some agency may say, we've always been and always will be a AAA country,"
Here is my take, in an humble email to a friend whose permission I have to share...which is totally imaginary based on these backlash of reactions from government and government connected agents:
S&P commenting on US credit is 'like the Catholic church lecturing scout leaders on proper behavior towards boys"
"These guys personify amateur hour."
"They've shown a stunning lack of knowledge about basic U.S. fiscal budget math," said Treasury Secretary Tim Geithner.
he decision "smacked of an institution starting with a conclusion and shaping any arguments to fit it" declared Gene Sperling, a top White House economics adviser
President Obama appears to agree. "No matter what some agency may say, we've always been and always will be a AAA country,"
Here is my take, in an humble email to a friend whose permission I have to share...which is totally imaginary based on these backlash of reactions from government and government connected agents:
I believe the CIA is now working on organizing coordinated attacks on the company that will render S&P insolvent in the next year (think lawsuits, security attacks on IT systems, disappearing revenue due to blackmail and scared clients) and mean the only company that downgraded the USA will be bankrupt next year and gone with the wind (alongside its rating and the thrash book on which it was written). Come think of it, it is Democrats fault that S&P can write this nonsense. Why are these rating agencies still in business after the faux pas of 2008? Shouldn't they now be subjects of multitude lawsuits, multiple DOJ investigations as well as outright ban on their monopoly. Blackrock does more serious credit analysis that Moodys, S&P and Fitch added together anyway!
Folks, for serious credit ratings visit www.wazobiainc.com . Just in case you don't know I'm in the rating business too! LOLNow you know folks..please patronize me!
