Moody's threatened US credit rating downgrade - laugh or cry?

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ltlredwagon's picture
ltlredwagon
Status: Bronze Member (Offline)
Joined: Nov 23 2008
Posts: 87
Moody's threatened US credit rating downgrade - laugh or cry?

From Bloomberg:  http://www.bloomberg.com/news/2011-06-02/moody-s-says-u-s-may-be-cut-if-...

How come when I increase my "debt ceiling" my rating goes down, but when the gov'ment does it, theirs goes up?

I guess it's cuz they got their Ph.Ds in economics at Harvard and I got mine at Safeway.

 

 

 

dshields's picture
dshields
Status: Platinum Member (Offline)
Joined: Oct 24 2009
Posts: 599
yep - it is busted...

Yep, that is how it works, and yep, it is totally busted.

Moody's, S&P, and Fitch are the SOBs that rated garbage derivatives based on crazy loans as AAA investment grade and assisted in the biggest swindle in history upon the people of America and the world.  It busted the world economic system to the bone.  Yes the US gov has been on an out of control spending spree, yes other governments have been doing it also, but the ratings agencies are real bad, and now they have ended up protected by the gov and the courts.  They should have been held accountable for their lies and sued out of existence.

They have no credibility any more.  They lie and cheat and people can not count on their advise for anything.  I hope they do downgrade us.  Maybe it will be a wake up call to the people.  The average person on the street has no idea what is going on around them or what is going to happen to them. 

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