republicans caused the us downgrade by s&p

Quote from g222:

You're putting too much faith in how well the fox says he can guard your hen house.
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My goodness! Are you suggesting the government does not have my personal best interests at heart???
 
Quote from profitMagnet:

My goodness! Are you suggesting the government does not have my personal best interests at heart???[/qoute]


MOI ??? How dare toi !!???
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Quote from Free Thinker:

A Standard & Poor’s director said for the first time Thursday that one reason the United States lost its triple-A credit rating was that several lawmakers expressed skepticism about the serious consequences of a credit default — a position put forth by some Republicans.

Without specifically mentioning Republicans, S&P senior director Joydeep Mukherji said the stability and effectiveness of American political institutions were undermined by the fact that “people in the political arena were even talking about a potential default,” Mukherji said.
“That a country even has such voices, albeit a minority, is something notable,” he added. “This kind of rhetoric is not common amongst AAA sovereigns.”

Read more: http://www.politico.com/news/stories/0811/61147.html#ixzz1UowmjphH

Read more: http://www.politico.com/news/stories/0811/61147.html#ixzz1Uowegz6r
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A number of things about S&P's downgrade don't get mentioned enough....

Like - S&P was part of the Gang-of-3 that rated subprime deals AAA (like Goldman's Abacus "shitty" deal). So they helped cause the crises.

Ratings agencies continue to be paid by the gov't who is now holding a ton of the big bank's crap - because that crap has to be periodically re-rated. So they are still sucking on the gov't teet.

S&P was actually targeting the Tea Party indirectly - because they say the downgrade was partly due to the deal out of DC lacking "revenue enhancers" - and who has been adamant against those?

So, all-in-all, they are as conflicted as ever....
 
Quote from Free Thinker:

A Standard & Poor’s director said for the first time Thursday that one reason the United States lost its triple-A credit rating was that several lawmakers expressed skepticism about the serious consequences of a credit default — a position put forth by some Republicans.

Without specifically mentioning Republicans, S&P senior director Joydeep Mukherji said the stability and effectiveness of American political institutions were undermined by the fact that “people in the political arena were even talking about a potential default,” Mukherji said.
“That a country even has such voices, albeit a minority, is something notable,” he added. “This kind of rhetoric is not common amongst AAA sovereigns.”

Read more: http://www.politico.com/news/stories/0811/61147.html#ixzz1UowmjphH

Read more: http://www.politico.com/news/stories/0811/61147.html#ixzz1Uowegz6r
More...

This is a perfect case of misplaced assumptions. The main people crying wolf about a default were Obama and Geithner, two known liars with little credibility. The Tea Party republicans demonstrated rather conclusively that failure to raise the debt ceiling need not cause a default. After being initially hooted at by the media, their analysis was eventually supported by mainstream economists and even Geithner, in private reassurances to banks.

It is hard to see how fighting to stop wasteful spending and insisting on large budget cuts somehow set the stage for a downgrade. This was obama's downgrade, and it perhaps is a fitting commentary on his leadership. Of course, as with everything else that has happened on his watch, except for killing osama, he refuses to take any responsibility.
 
Quote from AAAintheBeltway:

This is a perfect case of misplaced assumptions. The main people crying wolf about a default were Obama and Geithner, two known liars with little credibility. The Tea Party republicans demonstrated rather conclusively that failure to raise the debt ceiling need not cause a default. After being initially hooted at by the media, their analysis was eventually supported by mainstream economists and even Geithner, in private reassurances to banks.

It is hard to see how fighting to stop wasteful spending and insisting on large budget cuts somehow set the stage for a downgrade. This was obama's downgrade, and it perhaps is a fitting commentary on his leadership. Of course, as with everything else that has happened on his watch, except for killing osama, he refuses to take any responsibility.
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Well said as usual.
 
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