Kucinich Downgrades Rating of Standard & Poor’s - April 19, 2011

[slipslidingaway]

http://kucinich.house.gov/News/DocumentSingle.aspx?DocumentID=237708

"Congressman Dennis Kucinich (D-OH) today released the following statement after Standard & Poor’s (S&P) threatened the fiscal health of the nation by announcing the possibility of a future downgrade of the United States’ credit rating.

“No nation, agency or organization has the authority to dictate terms to the United States Government,” said Kucinich. “S&P and its compatriot Moody’s were a direct cause of the near collapse of the economy of the United States. That industry should be subject to greater oversight, regulation and fundamental overhaul as Washington gets serious about the deficit.”

According to a recent report by the Senate Permanent Subcommittee on Investigations, S&P and Moody’s directly contributed to the near collapse of our economy by giving their highest ratings to bonds that they knew were secured by high risk mortgages, in order to earn profitable fees from Wall Street firms, and then abruptly downgrading those bonds, some of which were less than a year old.

“The United States should not be held hostage by Wall Street. We need to get serious about the deficit, which was created by President Bush’s decisions to conduct multiple wars while cutting taxes for the wealthy. We need to end the wars in Iraq, in Afghanistan and in Libya, which will lower our deficit. We need to end the Bush tax cuts for the wealthy, which will lower our deficit. We need to create jobs, which will produce more tax revenues and lower our deficit. We need to reform our monetary policy which allows unaccountable banks and agencies to exercise inexcusable amounts of power over our economy," said Kucinich."


Kucinich "Rating Agencies Should Have (Been) Subject To Civil Fraud Charges & Revocation Of Their Licenses"

http://www.youtube.com/watch?v=tG2iugTa3pE

[lonestarnot]

1. Dennis correct again.

[slipslidingaway]

7. Yes ...

"Dennis Kucinich asks whether it would be nice to have a president who gets things right the first time."

2007 debate

http://www.youtube.com/watch?v=PuybefOu0t0

[flvegan]

2. God, but I love this guy.

[slipslidingaway]

8. Me too! n/t

[Horse with no Name]

3. Dennis is just a kook

so they say...however, he seems to get it right almost every time.

If he wasn't so "unelectable"...the M$M might not have marginalized him and we might not be in this mess today.

[slipslidingaway]

9. He gets it right on some major issues ...

and even the liberal media ignores and marginalizes him most of the time.

[Quixote1818]

4. I love this! K and R

[slipslidingaway]

10. We let the rating agencies off the hook and now we'll have to deal with the mess :( n/t

[chill_wind]

11. Yes we did.

K & R.

[amborin]

5. good for Kucinich!

[slipslidingaway]

14. Yes, wish others had cast doubt on the agencies at the time. nt

[bananas]

6. k&r nt

[slipslidingaway]

15. Thanks n/t

[Desertrose]

12. Dennis knows what is really going on.

Thanks for speaking up, Dennis!!

[slipslidingaway]

16. Yes he does! n/t

[upi402]

13. The 2x4 of truth smacks the snot-bubbles outa the banksters yet again

:patriot:

[slipslidingaway]

18. Except nobody listened :( n/t

[bigwillq]

17. K and R (nt)

[Pooka Fey]

19. I so love Dennis Kucinich

:loveya:

[cui bono]

20. KnR

[me b zola]

21. K&R

[socialindependocrat]

22. Where is the communication???

I've said before... Why didn't S&P communicate what they were looking for in order to keep the AAA rating? did they just sit there and wait for the "wrong" outcome and then downgrade the rating? This action is definately suspect. you're telling me that the government advisors are so stupid that hey have no communications with the banks and the ratings organizations?? you mean to say that that S&P was ready to downgrade the credit rating of the U.S. and make a bad situation worse - because they could??? what is the payoff for them? To make Obama look bad???!!! Isn't this treasonous behavior??? This is idiocy!!! what a moronic way to run a country!!!! the GOP has got to go!!!
This shows what money can do to buy people and organizations. The S&P is willing to trash the economy and stall the recovery in order to "try" to make Obama look bad. I'm not the most intelligent person on the face of the earth but even I can see what a scam job the people in power are trying to perpetrate on the President and the people of the U.S.
This needs to be investigated and a few people definately need to go to prison for a long period of time!

Let this be a warning to the Democrats to get up off their asses and start getting agressive about policy. these people are nuts and it's not going to get any easier. start putting them on the offensive!!!!

[malaise]

23. Well they should have sent the criminals to prison

along with S & P's good friend Madoff

[sabrina 1]

24. Why are we not hearing this from the WH??

Dennis as always hits the nail on the head. But he is outnumbered in this government by those who are complicit with the downfall of this country.

[hulka38]

25. Exactly.

Why are we not hearing this from the WH??