Moody's puts U.S. ratings on review for downgrade

[jefferson_dem]

Source: Reuters

(Reuters) - The United States may lose its top-notch credit rating in the next few weeks if lawmakers fail to increase the country's debt ceiling, forcing the government to miss debt payments, Moody's Investors Service warned on Wednesday.

Moody's was the first among the big-three rating agencies to place the United States' Aaa rating on review for a possible downgrade, which means a negative rating action is impending.

In a statement, Moody's said it sees a "rising possibility that the statutory debt limit will not be raised on a timely basis, leading to a default on U.S. Treasury debt obligations."



Read more: http://www.reuters.com/article/2011/07/13/us-usa-ratings-moodys-idUSTRE76C6PT20110713

[jaxx]

1. I see this is being ignored while the crap flies like gospel.

Thanks for posting this....people need to wake up.

K&R

[PoliticAverse]

2. This is Wall Street 'firing a shot across the bow'... n/t

[The Big Vetolski]

3. Moody's should have zero credibility after what they pulled during

the housing bubble. But no! Our entire political establishment quivers in helpless fear. Where's Godzilla when you need him, anyway?

[dixiegrrrrl]

6. Exactly. Even having to RAISE the debt ceiling is a tacit admission we are broke

and we raised it how many times in the last 20 years?

The major rating agencies are as functional as a screen door in a submarine.

( hat tip to whoever I stole that lovely phrase from).

[Bozita]

7. Yup, how are they still in business?

[plumbob]

9. I suggest giving the good folks at Moody's a tour of a drone control facility,

explaining how easy it is to fire right through the front door of....terrorists.

This is a shakedown, and these rating agencies need to be thrown out of business - they sure knew their shit during the housing bubble, didn't they?

Yeah, what I thought.

[blank space]

12. Godzilla is a her

[The Big Vetolski]

20. Oops. My bad. You're right. nt

[BobbyBoring]

15. My thinking exactly!

They were rating the worthless CDOs as AAA. They have ZERO cred IMHO

[wordpix]

16. Moody's has zero credibility in my eyes, too---I'll be listening to Robert Reich, instead

[MilesColtrane]

4. Tick Tock, Boehner.

[banned from Kos]

5. BIG! The "fuck you" letter 470 CEO's and the Chamber sent out

yesterday is right on.

Boener and McConnell read it loud and clear.

[Sherman A1]

8. Moody's can go straight to

Hell, They and their lazy butts helped cause this mess.

[neoralme]

10. I hope this is not some huge trick to devalue the bonds holding

social security funds so they can be sold at a discount. If that happens you can kiss this country goodbye.

[AtheistCrusader]

11. Even if we hit the debt ceiling, a default is not unavoidable.

This is a fucking bullshit scare tactic.

[BeFree]

13. A Republican win

They have nibbled mightily at the Full Faith and Credit idea of these United States.

Ate a damn big hole in it, they did. Way to go you bastards.

[KeyserSoze87]

14. Moody's...

...you can take your bullshit credit ratings and shove them up your ass. If the society we lived in made any sense at all, you clowns would be in jail for giving AAAs to financial instruments that you KNEW were unsustainable and couldn't be paid off. You people are the REAL terrorists!

[w4rma]

17. Who gives a flip what Moody's says? (nt)

[Whoa_Nelly]

18. We've already been downgraded once recently

not good

[alp227]

19. Moody's sounds note of caution while Bernanke promises support for US economy (QE3)

Source: The Guardian

Ratings agency Moody's warned it might strip the US of its AAA rating just hours after the Federal Reserve chairman, Ben Bernanke, was poised to inject further funds into the US economy and commit to several years of low interest rates to combat flagging growth and prevent further rises in the unemployment rate.

Bernanke said a third round of quantitative easing, called QE3, could be necessary if the economy fails to regain momentum in the second half of the year.

Moody's said it will review the federal government's triple-A bond rating because the White House and Congress are running out of time to raise the nation's $14.3tn borrowing limit and avoid a default. The US treasury says the government will default on its debt if the limit is not raised by 2 August.

Moody's said: "An actual default, regardless of duration, would fundamentally alter Moody's assessment of the timeliness of future payments."

Read more: http://www.guardian.co.uk/business/2011/jul/13/bernanke-ready-for-more-quantitative-easing