Standard & Poor’s Plays Politics

[JCMach1]

People used to rely on Standard & Poor’s to follow the debt rating of stock, bonds, and other financial instruments. Since 2008, their credibility has been flushed down the toilet after the exposure of their role in giving the magic AAA rating to various questionable real estate products.

Today, Standard & Poor’s has managed to take one step further down the road to ignominy. Not only did they downgrade Ireland's debt, but they downgraded the outlook on US debt citing the US government's inability to come to terms with the budget by 2013... Wall Street would like nothing better than to see job growth stall and a probable victory by a Republican for president in 2012... Standard & Poor’s isn't practicing economics, it is practicing blatant extortion...



Read more: http://blogcritics.org/politics/article/standard-poors-plays-politics/#ixzz1JwbpJs7j

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My most recent article... this can also be found at http://rationalista.com/

[Newest Reality]

1. Ring out the old

and then consider ringing in the new.

How far can we let the Status Quo go now before we are able to see that is nothing more than the inculcated notions of generations of power brokers who were able to influence our perceptions, values and beliefs to the point that we are now almost completely beholden to their convincing illusions are are left to either following them into decimation, or creating and upholding our own survival, because we realize what is most important to us in the long-run?

[BzaDem]

2. K&R.

[dkf]

3. My credit rating for the US is worse than S & P.

I'm predicting insolvency. Our political system is incapable of good decision making.

[JCMach1]

5. Not the system- REPUBLICANS

[dkf]

8. Yep they are so unserious that it is criminal.

George Bush wrecked everything. He was worse than anything our enemies could have done to us. He probably doesn't even realize what a screwup he is.

[girl gone mad]

6. We can only default by choice..

but, yes, considering that teabaggers seem to dictate our economic policy, it's a possibility.

[dkf]

9. I wouldn't put it past them to wreck our credit deliberately so we can't get access to funds.

Wasn't that the plan behind starving the beast? How else would it work it not for default?

[JCMach1]

11. Exactly, Wallstreet's reaction is also likely to keep

things like hiring on-hold as investors sit on their money past 2012.

[Name removed]

4. Deleted message

Message removed by moderator. Click here to review the message board rules.

[rufus dog]

7. Peon dude

Edit your post to make it coherent.

[Name removed]

10. Deleted message

Message removed by moderator. Click here to review the message board rules.

[JCMach1]

12. Seems like the Administration agrees with me...

http://www.reuters.com/article/2011/04/18/us-usa-budget-outlook-idUSTRE73H73M20110418

The Obama administration moved swiftly on Monday to downplay ratings agency S&P's downgrade of its U.S. credit outlook, calling the decision a political judgment that should not be taken too seriously...

[kentuck]

13. A lot of politics being played with the debt limit.

For sure.

[butterfly77]

14. K...

[enough]

15. k&r (nt)

[TacticalPeek]

16. S&P Negative Watch Smackdown Wrap - from Naked Capitalism

It is also worth noting that S&P has a horrible track record for judging credit worthiness. It rated hundreds of billions of dollars of subprime backed securities as investment grade. It also gave Lehman, Bear Stearns, and Enron top ratings right up until their collapse. Furthermore, no one was publicly fired for these extraordinary failures. Investors are aware that S&P’s judgement does not mean very much.

- Dean Baker

http://www.nakedcapitalism.com/2011/04/sp-negative-watch-smackdown-wrap.html

[indepat]

17. S&P is surely playing hardball politics and just might get a bloody nose and an ass-whipping

in the process. :patriot: