Monday, August 8, 2011

S&P - Stands for Silly and Pathetic?

S&P says US unlikely to regain AAA soon - thats okay, S&P is unlikely to regain anything resembling respect from investors either. Note that Prof Krugman points out that the downgrade actually dropped down the rates for treasuries.

Ratings agencies, we remember how much of tools you were to inflate the real estate mortgage bubble. Doing these shenanigans is not likely to help your image. Go back and do something useful - like downgrading some companies before the market punishes em, not after like you usually do.

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