S&P is a bunch of irresponsible f**ks

Quote from RedDuke:

They had no problems slapping AAA on garbage MBS securities while pocketing millions in fees.

However even tough their calculations does not seem to be exact, they had no problem downgrading US rating.
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Yes the S&P is corrupt, inept and played a major role in facilitating the economic collapse of 2008. I suppose their trying to regain some credibility with this move, but their image is just too tarnished. But at the end of the day, it's the limp dicked Obama administration and the 535 morons in congress that brought this on us, and sadly I really don't think it will change policy one bit. I fully expect further downgrades from other agencies before years end, and then the shit really hits the fan.
 
Quote from ddaytrader:

that's not their call to make ... the s&p ought to be shut down as a public menace.


then, congress should shut themselves down on the same grounds....
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Regardless of your opinion of S&P; in this case they did the country a public service.

No need to shut down the Senate; we just need to eliminate the House Of Representatives. That's where a lot of the mischief comes from; and, too many thugs to keep an eye on.
 
Quote from BSAM:

You people shouldn't be knocking S&P. You must not realize they just bitch-slapped the thugs in D.C. for you.
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Liberals would rather attack the information and the messenger than believe their man is incompentent.

Community Organizer. What does a community organizer do anyway?

Geithner must go. He ought to resign over the weekend. If the still has his job Monday morning then people will blame the president.
 
They should have done in years ago,but yeah,all rating agencies are crap. The one & only true rating is the yield.
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+1
 
Quote from 377OHMS:

...Geithner must go. He ought to resign over the weekend.
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OHMie, if I may, I will put a little spin on your post...

You say Geithner "ought" to resign. No, little Timmy "ought" to be in a federal penitentiary for tax fraud right now. Yet, Obama made him Treasury Secretary, which means he is over the IRS. What irony.
 
Quote from bond_trad3r:

Would it be more cost effective if the U.S. just bought SnP?
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your suggestion is a nice socialist solution. your kind of thinking is exactly the reason the US is going down the drain.
Margaret Thatcher once said that 'The trouble with socialism is that eventually you run out of other people's money
 
Actually, what made me chuckle was that one of the news stories said they had first given the US AAA back in 1941.
Huh? So they give the US AAA on the eve of a war everyone knew was coming, and everyone must have known would make the debt skyrocket.
Nope, no clouds on the horizon in 1941.
 
I would not be surprised if members of the S&P rating committee leaked their rating downgrade to some of their best fund clients! Thursday's market action smelled of market manipulation!

Investigation needs to be done on the rating commitee to see if any leaks occurred!
 
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